Arihant Foundations' board approved allotment of 245,000 equity shares at ₹480 each upon full conversion of warrants.
The allotment increased the company's paid-up equity capital from ₹9.97 crore to ₹10.21 crore.
Promoter Kamal Lunawath received 170,000 shares, while non-promoter Pranay Marlecha received 75,000 shares.