1,82,400 Equity Shares Allotted on Conversion of 60,800 Warrants

Company allots 1,82,400 equity shares of face value Rs. 10/- each after 60,800 warrants were converted.

Mon 5 Oct 2026

Equity Shares Allotted

1,82,400 equity shares of face value Rs. 10/- each

Warrants Converted

60,800 warrants

Warrant Issue Price

Rs. 1,250/- each

Upfront Payment

Rs. 312.50/- (25%) paid upfront

Warrants Outstanding

2,667 warrants remain outstanding

Fresh shares issued on warrant conversion

What the company informed

• The Board of Directors, in its meeting held on October 03, 2026, allotted 1,82,400 equity shares of face value Rs. 10/- each to warrant holders who applied to exercise their right of conversion.
• These shares arise from 60,800 warrants allotted on a preferential basis on December 29, 2025, following shareholder approval at the Extra-Ordinary General Meeting held on October 22, 2025.
• The warrant holders have paid the balance of the consideration and applied for conversion. The update states that as the total consideration of the 60,800 convertible warrants is received, the equity shares are allotted on exercise of conversion.

Price and the bonus adjustment

• The warrants carried an issue price of Rs. 1,250/- per warrant.
• Rs. 312.50/- per warrant, being 25% of the issue price, was payable upfront.
• After the company's 1:2 bonus issue, the entitlement on the outstanding warrants was proportionately adjusted. 60,800 outstanding warrants became exercisable into 1,82,400 equity shares, that is three equity shares for each outstanding warrant, with the exercise price revised accordingly.

Who received the shares

The covering letter names 10 investors, each shown with warrants held, shares allotted on conversion, warrants still outstanding and the position after the bonus issue. Some of the larger allotments:

• Girdhari T Jaisinghani: 16,000 shares allotted
• Nikhil R Jaisinghani: 16,000 shares allotted
• R. R. Family Trust: 13,600 shares allotted
• Rashmi Jain: 4,000 shares allotted
• Rinkle Jain: 4,000 shares allotted
• Divya Aggarwal: 2,133 shares allotted, with 2,667 warrants shown as outstanding for conversion

Other points from the update

• Total warrants allotted on December 29, 2025 stood at 72,000; after this conversion the table shows 2,667 warrants outstanding.
• The equity shares will be allotted in dematerialised form.
• The shares so allotted will rank pari passu with the existing equity shares of the company in all respects.
• The Board meeting commenced at 04:00 p.m. and concluded at 05:15 p.m.

In simple terms

This is the second leg of a fund-raising route where investors first bought warrants, paid a part upfront, and now pay the rest to receive shares. Because fresh shares are being issued, the total number of equity shares of the company increases by 1,82,400, which changes the percentage holding of every existing shareholder in the enlarged capital.

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