Board approves conversion of 44,51,000 warrants into equity shares at ₹171 each for promoter group

Board approved conversion of 44,51,000 warrants into 44,51,000 equity shares of ₹10 face value at ₹171 per share (premium ₹161), aggregating ₹76,11,21,000.

Thu 24 Sep 2026

Warrants Conversion

44,51,000 warrants converted into 44,51,000 equity shares

Issue Price

₹171 per share (face value ₹10, premium ₹161)

Aggregate Value

₹76,11,21,000

Balance Consideration Received

₹57,08,40,750 (75%)

Primary Allottees

Jayashree Firodia Trust (20,23,266 shares), Arun Firodia Trust (1,27,734 shares), Micro Age Instruments (23,00,000 shares)

What was decided

The Board, at its meeting held on September 24, 2026, approved the conversion of 44,51,000 warrants into 44,51,000 fully paid-up equity shares of face value ₹10 each, at an issue price of ₹171 per share including a premium of ₹161 per share, under the preferential allotment route.

Money involved

• Aggregate value of the allotment: ₹76,11,21,000
• Balance 75% consideration received from warrant holders: ₹57,08,40,750

Who gets the shares

• Jayashree Firodia Trust: 20,23,266 shares, holding moves from 32,55,058 to 52,78,324
• Arun Firodia Trust: 1,27,734 shares, holding moves from 19,72,800 to 21,00,534
• Micro Age Instruments Private Limited: 23,00,000 shares, holding moves from 55,22,993 to 78,22,993
• Arun Hastimal Firodia: no shares allotted, holding stays at 1,82,963

The number of investors is three, all within the promoter and promoter group.

Warrant transfer within promoters

The Board also took on record the transfer of 23,00,000 warrants to Micro Age Instruments Private Limited — 12,13,868 warrants from Mr. Arun Hastimal Firodia and 10,86,132 warrants from Arun Firodia Trust. This is a transfer among members of the promoter and promoter group.

Lapsing warrants

6,36,134 warrants held by Arun Firodia Trust will lapse upon expiry of the tenure of the warrants.

What it means for investors

Warrant conversion brings fresh money into the company and increases the total number of equity shares outstanding, which dilutes the proportionate holding of existing shareholders. Here the new shares go entirely to promoter group entities, and the warrant holders have paid the balance 75% of the consideration. The meeting commenced at 13:30 Hrs. and concluded at 14:15 Hrs.

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