Board approves preferential issue of 2,00,00,000 warrants at Rs.11; authorised capital to rise to Rs.23,50,00,000

Board approved issuing up to 2,00,00,000 (Two Crore) warrants convertible into equity shares on a preferential basis at Rs.11/- per warrant, aggregating to Rs.22,00,00,000 (Rupees Twenty Two Crores Only).

Sat 3 Oct 2026

Warrants Approved

up to 2,00,00,000 (Two Crore) warrants convertible into equity shares on a preferential basis

Warrant Issue Price

Rs.11/- per warrant

Aggregate Issue Size

Rs.22,00,00,000 (Rupees Twenty Two Crores Only)

Authorised Share Capital

to rise from Rs.3,50,00,000 to Rs.23,50,00,000

EGM Date

November 05, 2026

The Board approved a fund raise through warrants on a preferential basis, along with an increase in the company's authorised share capital. Both steps are subject to shareholder approval and other necessary approvals.

What was approved

• Issue of up to 2,00,00,000 (Two Crore) warrants convertible into equity shares on a preferential basis.
• Price of Rs.11/- per warrant, aggregating to Rs.22,00,00,000 (Rupees Twenty Two Crores Only).
• Each warrant carries the right to subscribe to 1 (one) equity share.
• Issue across 14 (Fourteen) allottees.

Who is subscribing

• 7 promoter allottees (including Seher Retail Private Limited) — sub-total 1,17,93,000 warrants.
• 7 public/body corporate allottees — sub-total 82,07,000 warrants.
• Largest single allotment shown is 20,70,000 warrants (Anar Patel, promoter).

The payment and exercise terms

• 25% of the warrant issue price is payable at the time of subscription and allotment.
• The balance 75% is payable by the warrant holder on exercise of the warrants.
• The tenure of the warrants shall not exceed 18 (eighteen) months from the date of allotment, and they may be exercised in one or more tranches.
• If a warrant holder does not exercise within 18 months, the unexercised warrants lapse and the amount paid on them stands forfeited by the company.

Increase in authorised share capital

• Existing authorised capital: Rs.3,50,00,000 (Rupees Three Crores Fifty Lakhs Only).
• Revised authorised capital: Rs.23,50,00,000 (Rupees Twenty-Three Crores Fifty Lakhs Only).
• Additional created: Rs.20,00,00,000 (Twenty Crore Only), by equity shares of face value Rs.10/- each.
• Amended Clause V of the Memorandum of Association reads: authorised share capital of Rs.23,50,00,000/- divided into 2,35,00,000 equity shares of face value Rs.10/- each. No other change in the Capital Clause.

Holding picture given in the update (assuming full exercise and conversion of warrants)

• The table shows pre-issue holdings and post-issue holdings of the allottees. Promoter allottees' percentage holdings are shown unchanged before and after, for example Anar Patel at 10.35%, Dakshesh Shah at 10.11%, Sanskriti Patel at 9.08%, Jayeshkumar Patel at 7.66%, Sheetal Shah at 5.53%, Dhruvin Shah at 6.57% and Seher Retail Private Limited at 9.67%.
• Public/body corporate allottees that already hold shares show a change in percentage: Innovative Infraplus India Limited from 6.00% to 6.78% and Shitalnath Consultant Private Limited from 3.40% to 4.34%.
• Public/body corporate allottees shown with no pre-issue holding (0 shares) and their post-issue percentages: Efficient Tie Up Private Limited 8.26%, Suparshva Urban Ventures LLP 4.71%, Padmaprabhu Urban Estate LLP 4.71%, Vaishudha Traders LLP 3.64% and Qureka Barter LLP 4.05%.
• Total shares allotted upon conversion as shown in the table: 20,000,000.

Other items noted by the Board

• A Valuation Report from an independent registered valuer was noted for calculation of the Minimum Floor Price.
• The Relevant Date was fixed as October 6, 2026.
• An Extra-Ordinary General Meeting will be held on Thursday, November 05, 2026, with a practising Company Secretary appointed as Scrutinizer for the e-voting process.

What a retail investor may want to track

• Shareholder approval at the EGM is required before the issue can proceed.
• Conversion of warrants into equity shares increases the total number of equity shares in issue; the update's own table shows the resulting holding percentages for each allottee on the assumption of full exercise and conversion.

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.