1,16,87,704 equity shares allotted on exercise of convertible warrants by a promoter group entity

Board approved allotment of 1,16,87,704 equity shares on exercise of an equal number of convertible warrants.

Thu 8 Oct 2026

Equity shares allotted

1,16,87,704 equity shares on exercise of an equal number of convertible warrants

Issue price

₹28.52/- per share

Amount received

₹24,99,99,988.56 received as the balance 75% on exercise

What happened

The board of directors, by a resolution passed by circulation on October 8, 2026, considered and approved the allotment of 1,16,87,704 equity shares on exercise of 1,16,87,704 convertible warrants. The shares were allotted to JBCG Advisory Services Private Limited, a promoter group entity, at an issue price of ₹28.52/- per share.

Money received

On exercise of these warrants, the company received ₹24,99,99,988.56, being the balance 75% of the issue price. The new equity shares so allotted shall rank pari-passu with the existing equity shares of the company.

Where the warrant conversion stands

• Warrants already exercised: 2,72,50,000
• Warrants exercised now: 1,16,87,704
• Warrants still pending for conversion: 3,11,88,521

Effect on capital and promoter holding

• Paid-up equity share capital stands increased to ₹49,85,16,898/-.
• Promoter group shareholding moves from 39.44% to 40.86% after this exercise.

What a retail investor may note

• The allottee is a promoter group entity, so this allotment increases the promoter group's holding in the company.
• The shares were issued against convertible warrants allotted earlier on a preferential basis, and the balance subscription money on them has now come into the company.
• A portion of those warrants is still pending conversion and may be exercised during the remaining tenure of the warrants.

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