Prostarm Info Systems544410Preferential allotment
Allotment of 28,98,717 convertible warrants at Rs. 147/- each on a preferential basis
28,98,717 Convertible Warrants allotted on a preferential basis to 21 non-promoter investors.
By ScoutQuest · · 2 min read
Rs. 147/-Issue price per Convertible Warrant
Balance 75% payable per Warrant on conversionRs. 110.25
Upfront 25% received per WarrantRs. 36.75
- Warrants Allotted
- 28,98,717 Convertible Warrants allotted on a preferential basis to 21 non-promoter investors
- Issue Price
- Rs. 147/- per warrant; total Rs. 42.61 crore
- Upfront Amount Received
- 25% upfront already received: Rs. 36.75 per warrant, aggregating Rs. 10.65 crore
The company has informed the exchanges about an allotment of Convertible Warrants on a preferential basis, approved by the Board through a circular resolution on October 15, 2026.
What was allotted
- 28,98,717 Convertible Warrants allotted to 21 investors, all in the Non-Promoter category
- Issue price: Rs. 147/- per Warrant, aggregating to Rs. 42.61 crore
- Each Warrant entitles the holder to subscribe to and be allotted one fully paid-up equity share of the company having a face value of Rs. 10/- each, at a premium of Rs. 137/- per share
How the money comes in
- 25% of the issue price, i.e. Rs. 36.75 per Warrant, has been received as the upfront Warrant Subscription Amount, aggregating to Rs. 10.65 crore
- The balance 75% of the issue price, i.e. Rs. 110.25 per Warrant, is payable by the Warrant Holder when the conversion right is exercised
- So only part of the total issue size has come in now; the rest arrives only on conversion
Conversion and lapse
- A Warrant Holder may exercise the conversion option any time within 18 months from the date of allotment, on payment of the balance 75%
- If the conversion option is not exercised within that period, the Warrants lapse and the amount paid towards subscription of those Warrants stands forfeited
Other features
- The Warrants have been allotted in dematerialised form
- The equity shares allotted on conversion will rank pari passu with the existing equity shares, including voting rights and dividend entitlement, and will be listed on the stock exchanges subject to receipt of the requisite approvals
- The Warrants, the equity shares arising on conversion, and the pre-preferential allotment shareholding of the proposed allottees are subject to the applicable lock-in requirements
What this means for readers
- The transaction brings in funds in two stages: a part now and the rest only if and when holders convert
- New equity shares are issued only on conversion, so the equity share count changes at that point rather than now
- The allottees here are non-promoter investors, and the warrant route leaves open the possibility of lapse if conversion does not happen within the 18-month window
Also from Prostarm Info Systems
CIN changed to L62099MH2008PLC368540 after alteration of Object Clause
10 Oct 2026
Received in-principle approval from NSE for preferential issue of up to 28,98,717 warrants
3 Oct 2026
BSE in-principle approval received for preferential issue of up to 28,98,717 warrants
1 Oct 2026
More numbers
- Convertible Warrants allotted28,98,717
- Issue price per Convertible WarrantRs. 147/-
- Total issue sizeRs. 42,61,11,399/-
- Upfront 25% received per WarrantRs. 36.75
- Upfront Warrant Subscription Amount receivedRs. 10,65,27,849.75
- Balance 75% payable per Warrant on conversionRs. 110.25
- Conversion window from date of allotment18 (Eighteen) months
- Number of non-promoter investors allotted warrants21 non-promoter investors
Source: BSE · 15 Oct 2026
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