90,50,000 Convertible Share Warrants Allotted on Preferential Basis; Rs. 14,39,85,500 Received Upfront
The Preferential Allotment Committee approved allotment of 90,50,000 share warrants, each convertible into one equity share.
- Total Warrants Allotted
- 90,50,000 share warrants
- Warrant Issue Price
- Rs 63.64 each
- Total Issue Size
- Rs. 57,59,42,000
- Upfront Payment Received
- Rs. 14,39,85,500 (25%)
- Conversion Timeline
- Within 18 months of allotment
What was decided
The Preferential Allotment Committee of the Board approved allotment of 90,50,000 share warrants, each convertible into an equivalent number of equity shares of face value Rs. 2/-.
The allotment follows shareholder approval at the Extra-Ordinary General Meeting held on 14th August, 2026, and in-principle approval from BSE Limited.
Money involved
- Warrant Issue Price: Rs 63.64 each, payable in cash.
- Total Issue Size: Rs. 57,59,42,000.
- Upfront 25% received: Rs. 14,39,85,500.
- Balance 75% payable when holders exercise conversion, within 18 months from the date of allotment.
- If the option is not exercised within 18 months, the unexercised warrants lapse and the amount paid is forfeited by the company.
Who got the warrants
There are 18 allottees across promoter/promoter group and non-promoter categories.
- Mr. Sunil Nyati (Promoter): 5,75,000 warrants.
- Mrs. Anita Nyati (Promoter Group): 5,75,000.
- Mr. Parth Nyati (Promoter Group): 7,00,000.
- Mr. Devashish Nyati (Promoter Group): 7,00,000.
- Ms. Yogita Gandhi (Non-Promoter Group): 20,00,000 — the largest single allotment.
- Valueworth Advisors LLP: 12,00,000; Intelliquity Ventures LLP: 8,00,000.
Effect on shareholding
Assuming the maximum warrants are issued and fully converted
- Mr. Sunil Nyati: from 12.47% to 10.57%.
- Mrs. Anita Nyati: from 12.44% to 10.55%.
- Mr. Parth Nyati and Mr. Devashish Nyati: each from 14.60% to 12.47%.
- Ms. Yogita Gandhi: from 7.46% to 12.01%.
Several new non-promoter investors come in with stakes such as 4.12%, 2.74% and 1.97%.
Lock-in
The warrants and the equity shares arising on conversion are subject to lock-in requirements under Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
How to read this
A preferential warrant issue brings money into the company in two stages — 25% now and 75% on conversion. Conversion of all warrants would increase the total number of shares, which reduces the percentage held by existing shareholders, while promoter and promoter group members are themselves participating. The committee also authorised the Chairman & Managing Director and the Company Secretary to apply for creation of an ISIN for the convertible warrants and to complete related updates.
Also from Swastika Investmart
New ISIN intimated for 90,50,000 warrants convertible into equity shares
6 Oct 2026
Statutory auditor certifies 25% upfront receipt on preferential issue of 90,50,000 warrants
6 Oct 2026
Allotment of 90,50,000 Convertible Warrants at Rs 63.64 Each; Rs. 14,39,85,500 Received Upfront
30 Sep 2026
More numbers
- Warrants allotted90,50,000
- Warrant Issue Price per warrantRs 63.64/-
- Total Issue SizeRs. 57,59,42,000/-
- Upfront amount received (25%)Rs. 14,39,85,500
- Face value per equity shareRs. 2/-
- Conversion period from allotmenteighteen months
- Warrants to Mr. Sunil Nyati (Promoter)575000
- Warrants to Ms. Yogita Gandhi2000000
- Mr. Sunil Nyati pre-issue holding12.47
- Mr. Sunil Nyati holding post full conversion10.57
- Ms. Yogita Gandhi holding post full conversion12.01
- Number of allottees18
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