Allotment of 59,41,500 equity shares on conversion of convertible warrants

Ecoboard Industries has allotted 59,41,500 fully paid equity shares after non-promoter warrant holders converted their warrants.

Thu 8 Oct 2026

Shares allotted on warrant conversion

59,41,500 fully paid equity shares

Issue price per share

₹ 30/- each

Paid-up equity share capital change

from 26406740 shares to 32348240 shares

What happened

• Ecoboard Industries has allotted 59,41,500 fully paid equity shares of face value ₹ 10/- each after holders of convertible warrants exercised their right to convert.
• The Board approved the allotment through a circular resolution passed on 08th October, 2026.
• Every allottee listed in the update belongs to the Non-Promoter-Public category.

How the conversion worked

• The company had earlier allotted 59,48,000 convertible equity warrants, on which 25% of the issue price was received at that stage.
• On conversion, the warrant holders paid the balance 75%, that is ₹ 22.5/- per warrant, aggregating to ₹ 133683750/-.
• Shares were issued at ₹ 30/- per share, and one warrant converts into one equity share.
• The newly allotted shares rank pari-passu, in all respects, with the existing equity shares, meaning they carry the same rights.

Who received the shares

• The allottees are individuals and entities in the non-promoter public group, including Agvida Management Services LLP, S&D Traders (Partnership Firm), 3ns Capital Ventures Private Limited and Sidpat Capital Advisors LLP.
• Other allottees include individual investors and Hindu Undivided Families.

Warrants that lapsed

• 6,500 warrants were not converted and have lapsed.
• These comprised 4,500 warrants of Jayasing Vishnu Kadam and 2,500 warrants of Danduboina Suribabu.

Capital structure before and after

• Existing paid-up equity share capital: 26406740 equity shares.
• Post allotment paid-up equity share capital: 32348240 equity shares.
• The increase reflects the issue of the new shares on conversion.

What happens next

• The company will apply to the stock exchange for listing and trading approval of the newly issued and allotted equity shares in due course of time.

What this means to a reader

• This update completes a process that began with the warrant issue, and records the receipt of the balance subscription money from the warrant holders.
• The change a retail investor can track here is in the number of shares the company has outstanding, shown by the before-and-after paid-up capital figures above.

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