Borosil Renewables Limited has completed the conversion of warrants into equity shares that were originally allotted on a preferential basis. The conversion was approved by the Management Committee of the Board of Directors on July 15, 2026.
Background and Transaction Details
The company had previously allotted 7,880,436 warrants on February 14, 2025, to non-promoter category investors. Each warrant was convertible into one fully paid-up equity share of face value Re. 1 each within 18 months at an issue price of Rs. 530 per warrant.
At the time of warrant allotment, warrant holders paid 25% of the issue price (Rs. 132.50 per warrant) as warrant subscription price. The remaining 75% (Rs. 397.50 per warrant) was payable at the time of conversion application.
Conversion and Allotment
Upon receipt of conversion notices and balance payments from warrant holders, the company has allotted 309,057 equity shares of face value Re. 1 each, fully paid-up. The conversion represents partial exercise of the originally allotted warrants.
Capital Structure Impact
Pursuant to this allotment, the paid-up equity share capital of the company has increased to Rs. 14,05,92,240 divided into 14,05,92,240 equity shares of face value Re. 1 each. The new equity shares rank pari-passu with the existing equity shares of the company.
Allottee Details
The equity shares were allotted to the following warrant holders:
- Amit Lakra: 100,005 shares
- Jiten Prataprai Mathuria: 37,735 shares
- Hiral Jinesh Doshi: 9,433 shares
- Arham Empower Equity: 18,867 shares
- Amit Gunchandra Mehta: 56,603 shares
- Hitesh Kumar Arvindbhai Shah: 30,679 shares
- Kaviraj Securities Private Limited: 37,735 shares
- Ashwani Kumar (as Karta of Ashwani Kumar HUF): 18,000 shares