Board Allots 24,25,000 Equity Shares on Conversion of Warrants; Capital Rises to Rs. 48,28,83,120
Board approved conversion of 24,25,000 warrants into 24,25,000 equity shares of Rs. 10/- each.
By ScoutQuest · · 1 min read
- Warrants Converted
- 24,25,000 warrants into 24,25,000 equity shares
- Exercise Price Paid
- Rs. 12.375 per warrant (75% of Rs. 16.50 issue price)
- Total Cash Received
- Rs. 3,00,09,375.00/-
- Paid-up Capital After Conversion
- Rs. 48,28,83,120/- comprising 4,82,88,312 equity shares
- Outstanding Warrants Remaining
- 27,58,838 warrants
What happened
The Board of Directors, at its meeting held on September 24, 2026, considered and approved the conversion of 24,25,000 warrants into 24,25,000 equity shares of face value Rs. 10/- each, and allotted those shares fully paid-up.
Background
Earlier, following shareholder approval at the Extra Ordinary General Meeting held on December 03, 2025 and BSE's in-principle approval, the Company had allotted 2,59,84,500 Convertible Warrants of face value ₹ 10/- each at an issue price of ₹ 16.50/- each, on receipt of 25% of the issue price upfront.
Money received now
- Balance exercise price paid: Rs. 12.375 per warrant, being 75% of the Rs. 16.50 issue price (which includes a premium of Rs. 06.50 per warrant).
- Total cash received on this conversion: Rs. 3,00,09,375.00/-
- The allotment was made for cash.
Who converted
- Onelife Capital Advisors Limited, categorised as Non-Promoter, holding 1,00,00,000 warrants, converted 24,25,000 of them.
- Number of investors involved: 01
- Balance outstanding warrants for conversion: 27,58,838
Effect on share capital
- Before: Rs. 45,86,33,120/- comprising 4,58,63,312 equity shares of Rs. 10/- each.
- After: Rs. 48,28,83,120/- comprising 4,82,88,312 equity shares of Rs. 10/- each.
What this means for investors
New shares being issued increases the total share count, which spreads earnings across a slightly larger base (dilution) for existing holders. At the same time, the Company receives fresh cash of Rs. 3,00,09,375.00/-. The newly allotted shares rank pari-passu with existing equity shares in all respects, and the Company will apply for listing and trading approval from the stock exchange in due course. Further conversions may follow, as 27,58,838 warrants remain outstanding.
Meeting timing
The Board Meeting commenced at 12:00 PM IST and concluded at 12:10 PM IST.
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More numbers
- Warrants converted24,25,000 warrants
- Equity shares allotted24,25,000 equity shares
- Face value per shareRs. 10/-
- Warrant issue price₹ 16.50/-
- Premium per warrantRs. 06.50/-
- Balance exercise price per warrantRs. 12.375/-
- Total amount received on conversionRs. 3,00,09,375.00/-
- Total warrants originally allotted2,59,84,500
- Paid-up capital beforeRs. 45,86,33,120/-
- Shares before4,58,63,312 equity shares
- Paid-up capital afterRs. 48,28,83,120/-
- Balance outstanding warrants27,58,838
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