Proposed preferential issue of 21.57 lakh convertible warrants withdrawn; BSE rejects application as withdrawn
D & H India has withdrawn its proposed preferential issue of up to 21.57 lakh convertible warrants to Promoters and Promoter Group.
By ScoutQuest · · 2 min read
- Warrants withdrawn
- up to 21.57 lakh convertible warrants to Promoters and Promoter Group
- Aggregate issue size
- up to Rs.3257.07 Lakhs
- Warrant price
- Rs.151/- (face value Rs.10/- plus premium of Rs.141/-)
What the company told the exchange
D & H India has informed BSE that it has decided to withdraw the proposed preferential issue of warrants to its Promoters and Promoter Group. In the same communication the company states that BSE, on 22nd October 2026, rejected the application as withdrawn. The company adds that the proposed preferential issue stands withdrawn and the application for in-principle approval has been rejected.
Issue terms that were proposed
- Up to 21.57 lakh (Twenty-One Lakh Fifty-Seven Thousand) warrants.
- Price of Rs.151/- per warrant, being an equity share of Rs.10/- plus a premium of Rs.141/-.
- Each warrant convertible into 1 equity share of Rs.10/- of the company.
- Payable in cash, in one or more tranches, aggregating up to Rs.3257.07 Lakhs (Rs. Thirty Two Crores Fifty Seven Lakhs Seven Thousand Only).
- Conversion window of 18 months from the date of allotment of the warrants.
- The allottees were to be the Promoters and Promoter Group on a preferential basis.
What changes for the company
The warrants were proposed to be issued to the promoter side, so this was a proposed inflow of fresh funds from promoters into the company along with a possible change in promoter shareholding, had the issue gone through and the warrants been converted. With the withdrawal, that proposed issuance does not proceed.
How to read this
For a retail investor, the key facts are the size of the proposal that has been called off (up to 21.57 lakh warrants, aggregating up to Rs.3257.07 Lakhs) and the terms that were proposed (Rs.151/- per warrant). The update states the withdrawal and BSE's rejection of the application as withdrawn; it does not set out any reason for the decision.
Points to note
- The words used in the update are "withdrawn" and "rejected as withdrawn" — this is not a rejection on merits of the proposal by the exchange, as described by the company.
- The company's earlier letter on this proposal was dated 15th October 2026, and the withdrawal intimation is dated 22nd October 2026.
- Nothing in the update indicates any change to the company's existing issued share capital; this relates only to warrants that were proposed and never allotted.
Also from D & H India
Board approves withdrawal of proposed preferential issue of up to 21,57,000 warrants
15 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
- Proposed convertible warrants21,57,000
- Issue price per warrantRs.151/-
- Face value per equity shareRs. 10/-
- Premium per shareRs.141/-
- Aggregate issue sizeRs.3257.07 Lakhs
- Conversion period from allotment18 (Eighteen) months
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