MCMantra Capital511577Preferential allotment

Conversion of 30 lakh warrants: 30 lakh equity shares allotted to promoter on preferential basis

Mantra Capital's Board approved (by circulation, October 15, 2026) conversion of 30 lakh warrants into 30 lakh equity shares and their allotment.

By ScoutQuest · Fri 16 Oct 2026, 5:54 PM IST · 2 min read

Warrants Converted

30 lakh warrants into 30 lakh equity shares, allotted to promoter and MD Mrs. Deepa Kishor Tracy

Consideration Received

Balance 50% received at ₹10/- per warrant, aggregating ₹3 crore

Paid-up Share Capital

~Rs. 40.39 crore (40386224 equity shares of Rs. 10/- each)

What the company informed

Mantra Capital Ltd (formerly Savani Financials Ltd) said its Board, by way of circulation on October 15, 2026, approved the conversion of 30 lakh warrants into 30 lakh equity shares of face value ₹10/- each, and the allotment of those shares to Mrs. Deepa Kishor Tracy, the promoter and managing director of the company. This follows the terms of the preferential issue approved earlier by shareholders.

Consideration received on this conversion

• The balance 50% of the issue price was received at ₹10/- per warrant, aggregating to ₹3 crore (Rupees Three Crore only).
• Each warrant is exercisable into 1 (one) equity share.
• The warrants were issued at Rs. 20/- each, including a premium of Rs. 10/-.

Background of the preferential issue

• Shareholders approved the issue of 45 lakh warrants, of face value Rs. 10/- each, at an issue price of Rs. 20/- each, aggregating to Rs. 9 crore (Rupees Nine Crore only), by special resolution passed at the meeting held on February 27, 2026.
• The warrants were issued and allotted on April 08, 2026.
• At the time of application, 50% of the issue price was paid, being Rs. 4.5 crore (Rupees four crore fifty lakh).
• Out of the total, 15 lakh warrants were converted into equity shares of face value Rs. 10/- each and allotted to Mrs. Deepa Kishor Tracy on September 24, 2026, on receipt of balance consideration of Rs. 1.5 crore (Rupees One Crore Fifty Lakhs only).
• The present approval covers the remaining 30 lakh warrants.

Effect on share capital

• Pursuant to the allotment, the paid-up share capital of the company will increase to ~Rs. 40.39 crore, made up of 40386224 equity shares of face value Rs. 10/- each fully paid-up.
• The warrants can be exercised in one or more tranches, no later than 18 months from the date of allotment of the warrants.
• The number of investors in this preferential issue is one.

Points a retail investor may note

• The shares are being allotted to the promoter and managing director, so this represents funds coming in from the promoter side.
• This is the second tranche of conversion of warrants issued on a preferential basis; the earlier tranche of 15 lakh warrants was converted in September 2026.
• The allotment is at Rs. 10/- per warrant, being the balance 50% of the Rs. 20/- issue price, which is the price approved by shareholders for the preferential issue.

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