Statutory auditor certifies 25% upfront receipt on preferential issue of 90,50,000 warrants

Swastika Investmart has shared a statutory auditor's certificate on the money received for its preferential issue of share warrants.

Tue 6 Oct 2026

Warrants Allotted

90,50,000 share warrants allotted on 30 September 2026

Issue Price per Warrant

Rs 63.64 each (face value Rs. 2)

Upfront Amount Received (25%)

Rs. 15.91 per warrant; aggregating Rs. 14,39,85,500 received from allottees as on 30 September 2026

Swastika Investmart has submitted to the exchanges a certificate from its statutory auditors, Fadnis & Gupte LLP, certifying the receipt of consideration in connection with its preferential issue of share warrants.

What the certificate covers

• Allotment of 90,50,000 share warrants on 30 September 2026.
• Each warrant is convertible into, or exchangeable for, one equity share of face value Rs. 2 each.
• Issue price: Rs 63.64 per warrant.
• Allottees are the promoter, members of the promoter group and identified non-promoter persons/entities.
• The special resolution for the issue was passed by the members at an Extra Ordinary General Meeting held on 14 August 2026.

How the money has come in

• 25% of the issue price — Rs. 15.91 per warrant — has been received upfront from each allottee.
• This upfront amount aggregates Rs. 14,39,85,500, received as on 30 September 2026 in the specified bank account.
• The statement of funds received lists the total consideration against the warrants at Rs. 57,59,42,000, across 18 allottees.

Who has been allotted the warrants

• Mr. Sunil Nyati (Promoter) — 5,75,000 warrants; upfront amount Rs. 91,48,250.
• Mrs. Anita Nyati (Promoter Group) — 5,75,000 warrants; Mr. Parth Nyati and Mr. Devashish Nyati (Promoter Group) — 7,00,000 warrants each.
• Among the non-promoter allottees, Ms. Yogita Gandhi — 20,00,000 warrants; Valueworth Advisors LLP — 12,00,000 warrants; Intelliquity Ventures LLP — 8,00,000 warrants.

What the auditor did

• Obtained the list of allottees along with the upfront amount of 25% of the issue price from the management.
• Read the certified true copy of the resolution passed for the allotment at the meeting of the Preferential Allotment Committee of the Board of Directors held on 30 September 2026.
• Traced the names of the persons and the amounts appearing in the company's bank statement for the period 22 September to 30 September.
• The certificate is a limited assurance report on whether the details in the statement of funds received are in accordance with Regulation 169(4) of the ICDR Regulations. The auditor states that nothing has come to its attention that causes it to believe the details are not in accordance with those requirements or that the relevant documents are not maintained.

What it means

• The certificate is part of the process for a preferential issue, confirming that the upfront money has come in from the allottees.
• The warrants are not equity shares yet; equity shares arise when the warrants are converted into, or exchanged for, shares.
• The number of warrants and the amounts received are the figures to track, since conversion of these warrants into equity shares would change the company's equity share capital.

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