Board approves conversion of 4.65 lakh warrants into equity shares on preferential basis
Board approved conversion of 4.65 lakh warrants into 4.65 lakh fully paid equity shares of Rs. 10/- each, allotted on a preferential basis to a warrant holder belonging to the Promoters.
By ScoutQuest · · 2 min read
- Warrants converted
- 4.65 lakh warrants into 4.65 lakh fully paid equity shares of Rs. 10/- each
- Balance exercise price received
- Rs. 31.6875/- per warrant (75% of the issue price), aggregating Rs. 14,734,687.50
- Paid-up equity share capital
- rises from Rs. 168367920/- to Rs. 173017920/- (16836792 to 17301792 equity shares)
What the board approved
Shelter Pharma Limited informed the exchange that its Board of Directors, at its meeting held on Friday, October 16, 2026, considered and approved the conversion of 4.65 lakh convertible equity warrants into 4.65 lakh fully paid equity shares of face value Rs. 10/- each. The shares were allotted on a preferential basis to warrant holders belonging to the Promoters who exercised their right of conversion.
Where these warrants came from
The company had earlier allotted, in aggregate, 88.08 lakh convertible equity warrants of face value ₹ 10/- each at an issue price of ₹ 42.25/- each, after shareholder approval at the Extra Ordinary General Meeting held on Wednesday, July 23, 2025 and the in-principle approval from the exchange. At that stage, warrant subscription money equal to 25% of the issue price was received.
The money received now
This allotment was made for cash, on receipt of the remaining exercise price of Rs. 31.6875/- per warrant, being 75% of the warrant issue price, aggregating to Rs. 14,734,687.50.
Who converted
As per Annexure I, the warrant holder is promoter Mustaqim Nisarahmed Sabugar
- Warrants allotted: 750,000
- Warrants already converted: 285,000
- Shares allotted upon conversion on 16th October, 2026: 465,000
- Total amount paid for conversion: Rs. 14,734,687.50
- Balance outstanding warrants for conversion: NIL
What changes in the share capital
- Paid-up equity share capital increases from Rs. 168367920/-, consisting of ~1.68 crore equity shares of face value Rs. 10/- each, to Rs. 173017920/-, consisting of 17301792 equity shares of face value Rs. 10/- each.
- The newly allotted equity shares rank pari-passu with the existing equity shares of the company in all respects.
- Application for listing and trading approval of the newly issued and allotted equity shares will be made in due course.
What an investor may note
- The conversion follows a warrant issue that shareholders had already approved, and it brings in the balance 75% of the warrant money in cash.
- The total number of equity shares in the company goes up, so the new shares add to the total share count and an existing shareholder's stake represents a smaller proportion of the company than before.
- The shares have been allotted to a warrant holder belonging to the Promoters.
- The disclosure also states that there has been no cancellation or termination of the proposal for issuance of securities.
Also from Shelter Pharma
Board approves conversion of 4.65 lakh warrants into 4.65 lakh equity shares
16 Oct 2026
Shareholders Approve Regularization of Ms. Vinita Gadhavi as Non-Executive Independent Director
29 Sep 2026
More numbers
- Warrants converted into equity shares465000
- Warrant issue price per warrant₹ 42.25/-
- Balance exercise price paid per warrant (75% of issue price)Rs. 31.6875/-
- Amount received on conversionRs. 14,734,687.50
- Paid-up equity share capital before conversionRs. 168367920/-
- Paid-up equity share capital after conversionRs. 173017920/-
- Total equity shares after conversion17301792
- Warrants allotted in aggregate earlier88,08,000
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