D & H India517514Preferential allotment
Board approves withdrawal of proposed preferential issue of up to 21,57,000 warrants
Board meeting of 15th October 2026 (5.00 p.m. to 5.45 p.m.).
By ScoutQuest · · 2 min read
Rs.151/-Price per warrant
Premium per shareRs.141/-
Face value of equity shareRs. 10/-
- Warrants withdrawn
- up to 21,57,000 Warrants of Rs.151/- each
- Aggregate consideration
- aggregating up to Rs.3257.07 Lakhs
- Conversion terms
- convertible into 1 equity share of Rs.10/- each at a premium of Rs.141/-
What the board decided
- The Board of Directors met on Thursday, 15th October 2026 from 5.00 P.M. and the meeting concluded at 5.45 P.M.
- The Board considered and approved the withdrawal of the proposed preferential issue and allotment of up to 21,57,000 Warrants of Rs.151/- each.
- Each warrant was convertible into 1 (One) Equity Share of Rs.10/- each, at a premium of Rs.141/- per share.
- The aggregate consideration was up to Rs.3257.07 Lakhs, payable in cash in one or more tranches within a period of 18 (Eighteen) months from the date of allotment of warrants, on a preferential basis to Promoters and Promoter Group of the company.
Why the issue was withdrawn
- The Audit Committee met on 15th October 2026 and recommended withdrawal of the preferential issue in the best interest of the company.
- Two reasons are set out: a substantial increase in the price of the shares of the company, and an abnormal delay caused in the process of obtaining the In-Principle Approval so far.
- The Board noted that the In-Principle Approval sought from BSE Ltd. was pending till the date of the meeting.
- Background from the update: the Board had considered and approved the matter at its meeting held on 14th March 2026; the company applied to BSE Ltd. on 17th March 2026 for in-principle approval; and members' approval was accorded at the Extraordinary General Meeting held on 10th April 2026.
How the objects will now be funded
- The Board decided to fund the objects of the issue through internal accrual as well as borrowings from the Banks and financial institutions, as may be recommended by the Audit Committee from time to time.
What else the Board approved
- To make disclosure and communicate about the withdrawal of the issuance of warrants to BSE Ltd., to disseminate and communicate to the investors of the issue, and at the BSE website.
What this means for a retail investor
- A previously approved plan to raise money by issuing warrants to the Promoters and Promoter Group is being called off, so the shares that would have been issued on conversion of those warrants are not being issued.
- The money the company wanted for the objects of the issue is instead proposed to come from internal accrual and borrowings from banks and financial institutions.
- One of the stated reasons for the withdrawal is a substantial increase in the share price, and the other is the delay in the in-principle approval process.
Also from D & H India
Proposed preferential issue of 21.57 lakh convertible warrants withdrawn; BSE rejects application as withdrawn
23 Oct 2026
Board meet on 15 Oct 2026 to consider update, decision on preferential issue of 21,57,000 warrants
12 Oct 2026
More numbers
- Warrants proposed to be withdrawn21,57,000 Warrants
- Price per warrantRs.151/-
- Face value of equity shareRs. 10/-
- Premium per shareRs.141/-
- Aggregate considerationRs.3257.07 Lakhs
- Period from allotment for payment in tranches18 (Eighteen) months
Source: BSE · 15 Oct 2026
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