16 lakh warrants converted into equity shares on preferential basis
Board approved conversion of 16 lakh warrants into 16 lakh equity shares of Rs. 10/- each.
By ScoutQuest · · 2 min read
- Warrants converted
- 16 lakh warrants into 16 lakh equity shares of Rs. 10/- each
- Balance exercise price received
- Rs. 1,98,00,000/- at Rs. 12.375/- per warrant
- Paid-up capital change
- ~Rs. 49.89 crore from ~Rs. 48.29 crore
The board of the company, at its meeting on Saturday, October 24, 2026, considered and approved the conversion of 16 lakh warrants into 16 lakh equity shares of face value Rs. 10/- each, allotted on a preferential basis to Onelife Capital Advisors Limited, a Non-Promoter investor.
Terms of the conversion
- Each warrant carried an issue price of Rs. 16.50/-, which includes a premium of Rs. 06.50/- per warrant.
- At the time the warrants were allotted, 25% of the issue price was received.
- The balance 75%, equal to Rs. 12.375/- per warrant, has now been received in cash, aggregating to Rs. 1,98,00,000/-.
- The new equity shares rank pari-passu with the existing equity shares in all respects.
Impact on share capital
- Paid-up equity share capital has increased from ~Rs. 48.29 crore to ~Rs. 49.89 crore.
- The number of equity shares of face value Rs. 10/- each has increased from 4,82,88,312 to 4,98,88,312.
- The rise in paid-up capital is accounted for by the 16 lakh new shares of Rs. 10/- face value each.
Background of the issue
The company had earlier allotted ~2.6 crore convertible warrants at an issue price of Rs. 16.50/- each, on receipt of warrants subscription money at 25% of the issue price. That followed the approval of shareholders at the Extra Ordinary General Meeting held on Wednesday, December 03, 2025, and the in-principle approval accorded by BSE Limited dated December 08, 2025.
What happens next
The company has said it will apply to the stock exchange for listing and trading approval of the newly allotted equity shares in due course of time.
How to read this
A conversion means the money committed at the warrant stage has now been fully paid and the shares have been issued, so the company has received the full exercise price of Rs. 16.50/- per warrant across the 16 lakh shares converted. The total number of shares in issue goes up, and the new shares carry the same rights as existing shares. This is the completion of an allotment approved earlier, not a fresh fundraising decision taken now.
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More numbers
- Warrants converted into equity shares16,00,000
- Issue price per warrantRs. 16.50/-
- Balance exercise price per share warrant (75%)Rs. 12.375/-
- Amount received on conversionRs. 1,98,00,000/-
- Paid-up capital before conversionRs. 48,28,83,120/-
- Paid-up capital after conversionRs. 49,88,83,120/-
- Equity shares after conversion4,98,88,312
- Face value per equity shareRs. 10/-
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