Key Quantitative Figures

  • Total Warrants to be Issued: 20,00,00,000 (Twenty Crore)
  • Issue Price per Warrant: ₹4 (including premium of ₹3 per warrant)
  • Total Issue Size: ₹80,00,00,000 (Eighty Crore)
  • Current Paid-up Capital: 65,00,000 equity shares of Re. 1 each
  • Post-Issue Capital (upon full conversion): 20,65,00,000 equity shares
  • Upfront Payment Requirement: 25% of issue price (₹1 per warrant) payable at allotment
  • Conversion Period: 18 months from date of allotment
  • Relevant Date for Pricing: May 27, 2026
  • Floor Price as per SEBI ICDR Regulations: ₹3.89 per share

Dates of Action

  • Board Meeting Date: June 01, 2026 (approved the proposal)
  • EGM Date: June 27, 2026 at 11:00 AM
  • Remote E-voting Period: June 24, 2026 (9:00 AM) to June 26, 2026 (5:00 PM)
  • Cut-off Date for E-voting: June 20, 2026
  • Allotment Timeline: Within 15 days of shareholder approval (or within 15 days of receiving last regulatory approval)

Parties Involved

Proposed Allottees (Promoter Category):

1. Patel Vandanaben Hiteshkumar - 2,50,00,000 warrants (₹10 crore)

2. Rinkal J Patel - 2,50,00,000 warrants (₹10 crore)

Proposed Allottees (Non-Promoter Category):

3. Manjulaben Bharatbhai Patel - 3,75,00,000 warrants (₹15 crore)

4. Patel Vinodbhai Ramabhai - 3,75,00,000 warrants (₹15 crore)

5. Patel Sureshkumar R - 3,75,00,000 warrants (₹15 crore)

6. Krishnaben Rajendrakumar Patel - 3,75,00,000 warrants (₹15 crore)

Other Parties:

  • Stock Exchange: BSE Limited
  • Registrar & Transfer Agent: MUFG Intime India Private Ltd
  • Scrutinizer: M/s. Kamlesh M. Shah & Co., Practicing Company Secretaries
  • Registered Valuer: CS Abhishek Chhajed (IBBI Registration No. IBBI/RV/03/2020/13674)
  • Company Secretary: M/s. Heena Prajapati & Associates (COP: 27912)

Purpose and Rationale

The proceeds from the preferential issue (₹80 crore) are proposed to be utilized as follows:

  • Working Capital Purpose: 95% (₹76 crore)
  • General Corporate Purpose: 5% (₹4 crore)

The entire amount is expected to be utilized within 1 year from receipt of funds, with a possible deviation of +/-10% depending on business circumstances.

Capital Structure Impact

Current Shareholding Pattern (as of May 11, 2026):

  • Promoter & Promoter Group: 47,50,000 shares (73.08%)
  • Non-Promoters: 17,50,000 shares (26.92%)

Post-Issue Shareholding Pattern (upon full conversion):

  • Promoter & Promoter Group: 5,47,50,000 shares (26.51%)
  • Non-Promoters: 15,17,50,000 shares (73.49%)

This represents a significant dilution of promoter holding from 73.08% to 26.51% upon full conversion of all warrants.

Key Terms and Conditions

1. Each warrant convertible into 1 equity share of face value Re. 1

2. Conversion may be exercised in one or more tranches within 18 months

3. 25% payment (₹1 per warrant) required upfront at allotment

4. Balance 75% payable upon conversion

5. Warrants and resultant shares subject to lock-in as per SEBI ICDR Regulations

6. Warrants carry no voting rights until conversion

7. Unexercised warrants after 18 months will lapse with forfeiture of upfront amount

8. Equity shares issued on conversion will rank pari passu with existing shares

Meeting Arrangements

The EGM will be conducted entirely through Video Conferencing/Other Audio-Visual Means without physical presence of members, as permitted by MCA circulars. Members can participate and vote remotely through the InstaMeet and InstaVote facilities provided by MUFG Intime India Private Limited.

Additional Information

  • The notice is being sent electronically to all members whose email addresses are registered
  • All relevant documents are available on the company's website: https://www.alkaindia.in/
  • The valuation report and company secretary's certificate are available at: https://www.alkaindia.in/preferential-issue/
  • The company confirms compliance with continuous listing requirements
  • No change in control is anticipated following the preferential issue