Board approves conversion of 4.65 lakh warrants into 4.65 lakh equity shares
Board approved conversion of 4.65 lakh warrants into 4.65 lakh equity shares of face value Rs. 10/- each, allotted to promoter Mustaqim Nisarahmed Sabugar on payment of the remaining Rs. 31.6875/- per warrant, totalling Rs. 14,734,687.50/-.
By ScoutQuest · · 2 min read
- Warrants converted
- 4.65 lakh warrants into 4.65 lakh equity shares of face value Rs. 10/- each
- Amount received on conversion
- Rs. 14,734,687.50/-
- Paid-up capital
- Rs. 17301720/-
What was approved
The board of directors met on October 16, 2026 and considered and approved the conversion of 4.65 lakh convertible equity warrants into 4.65 lakh equity shares of face value Rs. 10/- each. The conversion was done on exercise of the right of conversion by a warrant holder belonging to the Promoters. The shares were allotted on a preferential basis for cash, and the allottee is Mustaqim Nisarahmed Sabugar (Promoter).
Money received on conversion
- Issue price: Rs. 42.25/- per warrant, which includes a premium of Rs. 32.25/- per warrant.
- The warrants were originally allotted on receipt of warrants subscription money at the time of that allotment.
- On conversion, the company received the remaining exercise price of Rs. 31.6875/- per warrant in cash.
- Total amount received on conversion: Rs. 14,734,687.50/-.
Effect on share capital
- Paid-up equity share capital moves from Rs. 168367920/- to Rs. 17301720/-.
- The newly allotted equity shares will rank pari-passu with the existing equity shares of the company in all respects.
- The company will make the application for listing and trading approval of the new shares in due course.
How a retail investor can read this
- This is a conversion of warrants that were issued earlier; the holder had already paid part of the issue price at that time and has now paid the balance.
- Each warrant converts into one equity share, so the total number of shares in issue goes up and the equity base expands.
- The shares have been allotted to a person in the Promoter category on a preferential basis, so the promoter's holding in the company goes up by these shares.
- Cash has come into the company against these shares, and the new shares carry the same rights as the existing shares once listed.
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More numbers
- Face value per equity shareRs. 10/-
- Issue price per warrant₹ 42.25/-
- Premium per warrantRs. 32.25/-
- Remaining exercise price paid per warrantRs. 31.6875/-
- Total amount received on conversionRs. 14,734,687.50 /-
- Equity shares allotted on conversion of warrants465000
- Paid-up equity share capital before conversionRs. 168367920/-
- Paid-up equity share capital after conversionRs. 17301720/-
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