Board approves raising authorised share capital to Rs. 31,00,00,000, issue of 1,37,00,000 convertible warrants

Board meeting on 7th October 2026 approved two main items.

Wed 7 Oct 2026

Authorised share capital

raised from Rs. 25,00,00,000 to Rs. 31,00,00,000

Convertible warrants issue

up to 1,37,00,000 convertible warrants at Rs. 13 each, aggregating Rs. 17,81,00,000

Post-allotment shareholding

promoter/promoter group 61.64% and non-promoter 38.36%

What the board approved

The board of directors met on Wednesday, 7th October 2026 and approved two main items, and also called an Extra Ordinary General Meeting (EGM) of shareholders.

Authorised share capital is being raised

• The authorised share capital is to increase from Rs. 25,00,00,000 to Rs. 31,00,00,000.
• Authorised capital is the ceiling up to which a company can issue shares. It is not money received by the company.
• This change is stated to be subject to approval of shareholders at the ensuing EGM, and involves amending the Capital Clause of the Memorandum of Association.

Convertible warrants on a preferential basis

• The board approved the issue of up to 1,37,00,000 convertible warrants at Rs. 13 each, aggregating Rs. 17,81,00,000.
• The warrants are offered for cash to promoter/promoter group and non-promoters on a preferential basis.
• Each warrant is convertible into an equity share of the company.
• The tenor of the warrants is 18 months from the date of allotment, and conversion can happen in one or more tranches.
• After the allotment, promoter/promoter group shareholding stands at 61.64% and non-promoter shareholding at 38.36%.

What happens next

• The EGM is called for Thursday, 5th November 2026 at 01:00 p.m. through video conferencing or other audio-visual means.
• The cut-off date for deciding who can vote by electronic means is Thursday, 29th October 2026.
• A practising company secretary was appointed as scrutinizer for the voting process, and NSDL was appointed to provide the e-voting platform.

In simple terms

A higher authorised capital gives the company room to issue more shares. The warrant issue, on conversion, would bring in Rs. 17,81,00,000 for cash and add to the number of equity shares in issue, with promoter and non-promoter holdings standing at the levels mentioned above after the allotment.

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