Board Approves Conversion of 44,51,000 Warrants into Equity Shares at ₹171 Each
Board approved conversion of 44,51,000 warrants into equity shares at ₹171 each (₹10 face value + ₹161 premium), totalling ₹76,11,21,000, on receipt of balance 75% money of ₹57,08,40,750.
By ScoutQuest · · 1 min read
- Warrants Converted
- 44,51,000 warrants
- Conversion Price
- ₹171 per share (Face value ₹10 + Premium ₹161)
- Total Allotment Value
- ₹76,11,21,000
- Balance Consideration Received
- ₹57,08,40,750
- Warrants to Lapse
- 6,36,134 warrants
What was approved
The Board of Directors met on September 24, 2026 and approved the conversion of 44,51,000 warrants into an equal number of 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. The issuance is by way of preferential allotment.
Money involved
- Total value of the allotment: ₹76,11,21,000
- Balance 75% consideration received: ₹57,08,40,750
Who gets the shares
There are 3 investors: Jayashree Firodia Trust, Arun Firodia Trust and Micro Age Instruments Private Limited.
- Jayashree Firodia Trust: pre-issue 32,55,058 shares, allotted 20,23,266, post-issue 52,78,324
- Arun Firodia Trust: pre-issue 19,72,800 shares, allotted 1,27,734, post-issue 21,00,534
- Micro Age Instruments Private Limited: pre-issue 55,22,993 shares, allotted 23,00,000, post-issue 78,22,993
- Arun Hastimal Firodia: holding stays at 1,82,963 shares
Transfer within promoter group
The Board also took note of the transfer of 23,00,000 warrants to Micro Age Instruments Private Limited — 12,13,868 warrants held by Mr. Arun Hastimal Firodia and 10,86,132 held by Arun Firodia Trust. This is a transfer amongst members of the Promoter and Promoter Group.
Warrants lapsing
6,36,134 warrants held by Arun Firodia Trust will lapse on expiry of the tenure of the warrants.
How to read this
Warrant conversion brings fresh money into the company and increases the number of equity shares outstanding, which dilutes the proportionate holding of existing shareholders. Here the shares go to promoter group entities, so promoter shareholding rises. The meeting commenced at 13:30 Hrs and concluded at 14:15 Hrs (IST).
Also from Kinetic Engineering
Shareholders Approve Continuation of Independent Director Beyond Age 75
30 Sep 2026
Members Approve Reclassification of Authorised Share Capital, MoA Clause V Amended
30 Sep 2026
Press Release: ₹57 Crore Promoter Investment via Final Warrant Conversion Tranche
24 Sep 2026
More numbers
- Warrants converted into equity shares44,51,000
- Issue price per share₹171/-
- Face value per share₹10/-
- Premium per share₹161/-
- Aggregate allotment value₹76,11,21,000/-
- Balance 75% consideration received₹57,08,40,750/-
- Warrants transferred within promoter group23,00,000
- Warrants to lapse6,36,134
- Shares allotted - Jayashree Firodia Trust20,23,266
- Shares allotted - Arun Firodia Trust1,27,734
- Post issue holding - Micro Age Instruments78,22,993
- Number of investors3 (Three)
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.