Allotment of 90,50,000 Convertible Warrants at Rs 63.64 Each; Rs. 14,39,85,500 Received Upfront
Allotted 90,50,000 share warrants on a preferential basis at Rs 63.64 each, totalling Rs. 57,59,42,000.
- Warrants Allotted
- 90,50,000 share warrants
- Warrant Price
- Rs 63.64 each
- Total Issue Size
- Rs. 57,59,42,000
- Upfront Payment Received
- Rs. 14,39,85,500 (25%)
- Promoter Stake Dilution
- Mr. Sunil Nyati: 12.47% to 10.57% on full conversion
What happened
The Preferential Allotment Committee of the Board approved the allotment of 90,50,000 share warrants, each convertible into one equity share of face value Rs. 2/-, at a warrant issue price of Rs 63.64 each. The total issue size is Rs. 57,59,42,000.
Money received
- Upfront 25% received: Rs. 14,39,85,500
- Balance 75% payable when holders exercise conversion, within 18 months from allotment
- If not exercised in 18 months, the warrants lapse and the amount paid is forfeited by the company
Approvals
Shareholders approved the issue at the Extra-Ordinary General Meeting held on 14th August, 2026, and BSE gave in-principle approval on September 18, 2026.
Who got the warrants
There are 18 allottees, covering promoter and promoter group as well as non-promoter/public category.
- Mr. Sunil Nyati (Promoter): 575000 warrants; upfront Rs. 91,48,250
- Mrs. Anita Nyati: 575000 warrants
- Mr. Parth Nyati: 700000 warrants
- Mr. Devashish Nyati: 700000 warrants
- Ms. Yogita Gandhi (Non-Promoter): 2000000 warrants; upfront Rs. 3,18,20,000
- Valueworth Advisors LLP: 1200000 warrants
- Intelliquity Ventures LLP: 800000 warrants
Dilution picture
Assuming full conversion of all warrants, the update shows holdings change as follows
- Mr. Sunil Nyati: from 12.47% to 10.57%
- Mrs. Anita Nyati: from 12.44% to 10.55%
- Mr. Parth Nyati: from 14.60% to 12.47%
- Mr. Devashish Nyati: from 14.60% to 12.47%
- Ms. Yogita Gandhi: from 7.46% to 12.01%
Other terms
The warrants and the equity shares arising on conversion will be subject to lock-in requirements under Chapter V of the SEBI ICDR Regulations, 2018. The Committee 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 with the stock exchange, depositories, MCA and RTA.
What it means for a small investor
The company brings in fresh cash now (25%) and potentially the rest over the next 18 months. Against this, the share count can rise by 90,50,000 shares if all warrants convert, which spreads earnings over a larger base. Existing promoter percentage holdings reduce on full conversion, while some non-promoter allottees gain meaningful stakes.
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
90,50,000 Convertible Share Warrants Allotted on Preferential Basis; 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 receivedRs. 14,39,85,500
- Upfront portion of consideration25%
- Balance payable on conversion75%
- Conversion period from allotment18 months
- Face value per equity shareRs. 2/-
- Sunil Nyati pre-issue holding12.47
- Sunil Nyati holding post full conversion10.57
- Yogita Gandhi warrants allotted2000000
- Number of allottees18
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