Event Overview
Alphalogic Techsys Limited has issued a notice for a postal ballot to seek shareholder approval for a preferential issue of convertible warrants. The notice is issued pursuant to Regulations 30 and 44 of the SEBI Listing Regulations and Sections 108 and 110 of the Companies Act, 2013.
Resolution Details
The company proposes to issue up to 18,00,000 fully convertible warrants to Vivaro Enterprises Limited, a non-promoter entity, on a preferential basis. Each warrant carries an entitlement to subscribe to one equity share of face value ₹5 each at an issue price of ₹30 per warrant (₹5 face value + ₹25 premium), aggregating to ₹5,40,00,000.
Financial Details
- Total issue size: ₹5,40,00,000
- Warrant price: ₹30 each
- Upfront payment: 25% (₹7.50 per warrant) payable on allotment
- Balance payment: 75% (₹22.50 per warrant) payable upon conversion
- Utilization of proceeds:
- Working capital requirements: ₹4,18,50,000 (77.5%)
- General corporate purposes: ₹1,21,50,000 (22.5%)
Warrant Terms
- Conversion period: 18 months from allotment date
- Each warrant convertible into one equity share
- Warrants carry no voting rights until conversion
- Unexercised warrants after 18 months will result in forfeiture of upfront payment
- Equity shares issued upon conversion will rank pari passu with existing shares
Shareholding Impact
- Pre-issue paid-up capital: 6,26,11,245 shares
- Post-conversion capital: 6,44,11,245 shares (assuming full conversion)
- Promoter holding dilution: from 73.78% to 71.72%
- Vivaro Enterprises' post-conversion holding: 18,00,000 shares (2.79%)
Voting Process
- Cut-off date for voting eligibility: July 17, 2026
- E-voting period: July 24, 2026 (9:00 AM IST) to August 22, 2026 (5:00 PM IST)
- Scrutinizer: Ms. Sheetal Chanchlani, Practicing Company Secretary
- Results announcement: On or before August 24, 2026
- Voting through NSDL e-voting platform only