Board approves allotment of 17,35,000 equity shares on conversion of warrants
Board approved allotment of 17,35,000 fully paid-up equity shares of Re.1/- each on conversion of warrants, on a preferential basis, to two promoter warrant holders.
- Equity shares allotted on warrant conversion
- 17,35,000 fully paid-up equity shares of Re.1/- each
- Balance exercise price received
- Rs.4,62,72,450/- (Rs.26.67/- per warrant, 75% of Rs.35.56/-)
- Paid-up equity capital after allotment
- Rs.44,25,22,440/- (from Rs.44,07,87,440/-); outstanding warrants: 0
Warrant conversion completed
- The Board approved the allotment of 17,35,000 fully paid-up equity shares of face value Re.1/- each on conversion of an equal number of warrants, on a preferential basis.
- The shares went to two promoter warrant holders: Ms. Anar Jayesh Patel and Anar Projects Private Limited.
- Ms. Anar Jayesh Patel converted 5,00,000 warrants and Anar Projects Private Limited converted 12,35,000 warrants.
What was paid
The warrants carried an exercise price of Rs.35.56/- per warrant. On allotment of the warrants, 25% of that price, at Rs.8.89/- per warrant, had been received. The balance 75%, at Rs.26.67/- per warrant, was received on conversion, aggregating to Rs.4,62,72,450/-. The allotment was made for cash, and the new shares rank pari passu with the existing equity shares in all respects.
Share capital impact
- Paid-up equity capital rose from Rs.44,07,87,440/-, consisting of 44,07,87,440 equity shares of Re.1/- each, to Rs.44,25,22,440/-, consisting of 44,25,22,440 equity shares of Re.1/- each.
Warrant position
- Total warrants allotted on January 28, 2026: 46,43,000
- Warrants converted into equity shares till October 06, 2026: 46,43,000
- Total outstanding warrants: 0
Shareholding before and after
- Ms. Anar Jayesh Patel: 43,60,000 shares (0.99%) before the issue, 48,60,000 shares (1.10%) after.
- Anar Projects Private Limited: 8,22,40,000 shares (18.71%) before, 8,34,75,000 shares (18.91%) after.
- Combined for the two allottees: 8,66,00,000 shares (19.70%) before, 8,83,35,000 shares (20.01%) after.
What this means
This update closes out the warrant instrument created with the January 28, 2026 allotment: the full exercise price has now been received and every warrant has been converted into an equity share, leaving none outstanding. Conversion adds 17,35,000 new shares to a base of 44,07,87,440 shares, so the total number of shares in issue rises as stated. The two promoter holders together move from a 19.70% to a 20.01% holding, as set out in the update.
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More numbers
- Equity shares allotted on conversion of warrants17,35,000
- Warrant exercise price per warrantRs.35.56/-
- Balance exercise price paid per warrantRs.26.67/-
- Amount received on balance exercise priceRs.4,62,72,450/-
- Paid-up equity capital after allotmentRs.44,25,22,440/-
- Total warrants allotted on January 28, 202646,43,000
- Combined post-issue holding of the two allottees8,83,35,000
- Combined post-issue holding as % of total capital20.01
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