Warrant holders convert 50,65,000 warrants; Board allots 50,65,000 equity shares

Board approved conversion of 50,65,000 warrants into equity shares.

Mon 5 Oct 2026

Warrants converted

50,65,000 warrants converted into equity shares

Equity shares allotted

50,65,000 fully paid-up equity shares of face value ₹10/- each

Issue price

Rs. 20.00/- per share; balance Rs. 15.00/- per share (75%) received on conversion

Paid-up equity capital

₹15,06,50,000/-, i.e. 1,50,65,000 equity shares of ₹10/- each

Allottees

12 allottees received the shares

What happened

At its meeting on Monday, 5th October, 2026, the Board of Directors considered and approved the conversion of 50,65,000 warrants into an equivalent number of 50,65,000 equity shares, pursuant to the exercise of the right of conversion by the respective warrant holders. The Board accordingly allotted 50,65,000 equity shares of face value of ₹10/- each, fully paid-up. These warrants were originally allotted by way of preferential allotment to the respective persons/entities.

Capital after the allotment

• The Issued, Subscribed and Paid-up Equity Share Capital of the company stands increased to ₹15,06,50,000/-, comprising 1,50,65,000 fully paid-up equity shares of ₹10/- each.
• The equity shares so allotted rank pari passu in all respects with the existing equity shares, including entitlement to dividend and other corporate benefits, subject to applicable laws.

The price and the payments

• Issue price: Rs. 20.00/- per equity share.
• At the time of subscription and allotment of each warrant, an amount equivalent to 25% of the warrant issue price was received, at the rate of Rs. 5.00/- per warrant.
• On conversion, the balance 75%, at the rate of Rs. 15.00/- per equity share, was received.

Who received the shares

The allotment went to 12 allottees. The names listed are Rajnikant C Shukla HUF, Sellwin Traders Limited, Hetalben Monilbhai Vora, Priyanka Mittal, Rahul Mittal, Long View Financial Services Pvt Ltd, Amit B Shah, Abhay Bipinchandra Shah, Helly Jayeshbhai Raval, Mitesh Patel, Mideast Healthcare Private Limited and Montukumar Ganpatbhai Patel.

Terms attached to the warrants

• Warrant holders may exercise the warrants in one or more tranches within a period of 18 (Eighteen) months from the date of allotment of the warrant, by giving a written notice specifying the number of warrants proposed to be exercised.
• The balance 75% is payable by the warrant holder(s) on exercise of the warrant(s).
• If a warrant holder does not exercise the warrants within 18 months from the date of allotment, the unexercised warrants shall lapse and the amount paid on them shall stand forfeited by the company.
• The price determined under Chapter V of the SEBI (ICDR) Regulations and the number of equity shares to be allotted on exercise may be subject to appropriate adjustments as permitted under applicable rules, regulations and laws.

How a retail investor can read this

• This is an allotment of new shares against warrants that were already issued earlier, so the number of shares in issue goes up to 1,50,65,000 and the paid-up capital to ₹15,06,50,000/-.
• The company received the balance consideration of Rs. 15.00/- per equity share on this conversion, the first 25% having come in at the warrant stage.
• The new shares carry the same rights as existing shares, including dividend entitlement.
• The identities of the allottees and their post-issue holdings are set out in the annexure to the update.

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