Allotment of 4 lakh equity shares on conversion of preferentially allotted warrants
Board allotted 4 lakh equity shares of face value Rs. 10/- each on conversion of convertible warrants.
By ScoutQuest · · 2 min read
- Equity Shares Allotted
- 4 lakh equity shares of face value Rs. 10/- each on conversion of convertible warrants
- Balance Consideration Received
- Rs.1.5 crore received at Rs. 37.50/- per warrant, being 75% of the issue price
- Warrants Outstanding
- 24,68,668 warrants remain outstanding for conversion
Epic Energy Ltd has allotted 4 lakh equity shares of face value Rs. 10/- each to warrant holders who exercised their right to convert their convertible warrants. The Board approved the allotment at its meeting held on October 22, 2026. The shares will be issued in dematerialised form and will rank pari passu with the existing equity shares of the company in all respects.
How the payment worked
- The convertible warrants were allotted on March 24, 2026 on a preferential basis to Promoters and Non Promoters, pursuant to shareholder approval at an Extra-Ordinary General Meeting held on December 18, 2025.
- The issue price was Rs. 50/- per equity share, including a premium of Rs. 40/- per share.
- At the time of warrant allotment, holders paid Rs. 12.5/- per warrant, being 25% of the issue price.
- On conversion, holders paid the balance Rs. 37.50/- per warrant, being 75% of the issue price.
The money received
The warrant holders paid the balance consideration aggregating to Rs.1.5 crore and applied to convert 4 lakh warrants into an equal number of equity shares. The update describes this as the total consideration of the 4 lakh convertible warrants on conversion.
Who received the shares
- The shares in this round went to one investor, Soleos Solar Energy Private Limited (Non Promoter), which was allotted 4 lakh equity shares against its 20,00,000 convertible warrants.
- Promoter allottees Nikhil Champaklal Morsawala and Veena Nikhil Morsawala held 6,00,000 warrants each and received NIL shares on conversion in this round.
Where the warrant position stands
- Total convertible warrants allotted on March 24, 2026: 38,00,000
- Equity shares allotted on conversion on October 22, 2026: 4,00,000
- Warrants outstanding for conversion after this allotment: 24,68,668
What this means for a retail shareholder
- A conversion adds to the number of equity shares in issue, so the existing holding represents a marginally smaller slice of the company.
- The company has received Rs.1.5 crore as the balance warrant price against these shares.
- The newly issued shares carry the same rights as existing shares, including any dividend and voting rights.
- A large block of warrants, 24,68,668, is still outstanding for conversion, so the share count can increase further when those are exercised.
More numbers
- Equity shares allotted on conversion of warrants4,00,000
- Balance consideration paid by warrant holdersRs.1,50,00,000/-
- Face value per equity shareRs. 10/-
- Total convertible warrants allotted on March 24, 202638,00,000
- Warrants outstanding for conversion24,68,668
- Issue price per equity share50/- each
- Balance amount paid per warrant (75% of issue price)Rs. 37.50/- per warrant
- Amount paid upfront per warrant (25% of issue price)Rs. 12.5/- per warrant
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