CHCMX Holdings532217QIP fundraising

Board approves authorised capital increase, ₹150 crore QIP and preferential issue of up to ~11.29 crore warrants

Board meeting on Oct 16, 2026 approved three proposals, each subject to shareholder approval.

By ScoutQuest · Fri 16 Oct 2026, 8:30 PM IST · 4 min read

Authorised Share Capital

rise from Rs. 30 crore to Rs. 196 crore

QIP Fund Raise

up to ₹150 crore through a Qualified Institutions Placement

Preferential Warrants

up to ~11.29 crore fully convertible warrants at Rs. 21.70 each, aggregating up to ~Rs. 245 crore

What the board approved

The board of the company met on Friday, October 16, 2026 and approved three proposals. Each is subject to the approval of shareholders, and where applicable, to regulatory and statutory approvals:

• An increase in authorised share capital from Rs. 30 crore divided into 3 crore equity shares of Re. 10 each, to Rs. 196 crore divided into 19.6 crore equity shares of Re. 10 each, with a consequent alteration to the Memorandum of Association.
• A fund raise of an aggregate amount not exceeding ₹150 crore through a Qualified Institutions Placement (QIP) by way of equity shares and/or other eligible securities, including securities convertible into equity shares. The board or a duly constituted committee will determine the issue price, timing, structure, terms and conditions.
• A preferential issue of up to ~11.29 crore fully convertible warrants for cash consideration.

Warrant terms in simple words

• Each warrant is convertible into, or exchangeable for, 1 fully paid-up equity share of face value Re. 10 each.
• The issue price is Rs. 21.70 per warrant, which includes a premium of Rs. 11.70 per share.
• The aggregate consideration works out to up to ~Rs. 245 crore, described in the update as the Total Issue Size.
• 25% of the warrant issue price is payable at the time of subscription and allotment. The balance 75% is payable when the warrant holder exercises the warrant.
• Warrants may be exercised in one or more tranches, within a maximum of 18 months from the date of allotment. If they are not exercised in that window, the unexercised warrants lapse and the amount already paid to the company on them stands forfeited.
• The amount paid against warrants will be adjusted against the issue price of the resulting equity shares.

Who is proposed to receive the warrants

There are 7 Investors. Six are listed as non-promoter and one, Recoll Projects Private Limited, is listed under the Promoter Group category:

• Ebene Global Opportunity Fund (Non-Promoter): Rs. 14,99,99,992 for 69,12,442 securities
• North Star Opportunities Fund VCC – Bull Value Incorporated VCC Sub-Fund (Non-Promoter): Rs. 37,50,00,000 for 1,72,81,106 securities
• Nova Global Opportunities Fund PCC – Touchstone (Non-Promoter): Rs. 20,00,00,003 for 92,16,590 securities
• Maestro Emerging Fund PCC – Asset Investing (Non-Promoter): Rs. 14,99,99,992 for 69,12,442 securities
• Zeal Global Opportunities Fund (Non-Promoter): Rs. 24,99,99,993 for 1,15,20,737 securities
• Bridge India Fund (Non-Promoter): Rs. 37,50,00,000 for 1,72,81,106 securities
• Recoll Projects Private Limited (Promoter Group): Rs. 95,00,00,003 for 4,37,78,802 securities

Total: ~Rs. 245 crore for 11,29,03,225 securities.

Shareholding picture given in the update

The update gives a pro-forma shareholding assuming full conversion of the warrants, described as indicative:

• Nova Global Opportunities Fund PCC – Touchstone holds 67,908 shares, or 0.60%, before the issue, and would hold 92,84,498 shares, or 7.47%, after full conversion.
• Zeal Global Opportunities Fund holds 69,271 shares, or 0.61%, before the issue, and would hold 1,15,90,008 shares, or 9.33%, after full conversion.
• Ebene Global Opportunity Fund: Nil before, 69,12,442 shares or 5.56% after full conversion.
• North Star Opportunities Fund VCC: Nil before, 1,72,81,106 shares or 13.91% after full conversion.
• Maestro Emerging Fund PCC: Nil before, 69,12,442 shares or 5.56% after full conversion.
• Bridge India Fund: Nil before, 1,72,81,106 shares or 13.91% after full conversion.
• Recoll Projects Private Limited (Promoter Group): Nil before, 4,37,78,802 shares or 35.24% after full conversion.

The combined pre-issue holding of these proposed allottees is 1,37,179 shares, or 1.21%.

How a retail investor can read this

• The three items are proposals approved by the board. The update states they require shareholder approval, and the QIP also requires such regulatory and statutory approvals as may be required.
• The QIP size is capped at ₹150 crore, but the number of securities to be issued under it will be determined based on the applicable issue price and the terms of the QIP.
• The warrants bring in 25% of the consideration at allotment, with the remaining 75% coming later if the holder chooses to exercise. If the holder does not exercise within 18 months, that portion does not come in and the subscription money already paid is forfeited.
• The pro-forma table shows the shareholding that would result if all warrants are converted; it is stated as indicative and the warrants are yet to be allotted.
• The record shows a mix of institutional non-promoter names and one promoter group entity subscribing to the warrants.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

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