Nature of the Event

Eco Recycling Limited (Scrip Code: 530643) has made a disclosure pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 regarding preferential allotment of fully convertible share warrants to promoters and promoter group.

Key Quantitative Figures

  • Number of Warrants Allotted: 3,00,000 Fully Convertible Share Warrants
  • Total Issue Size: ₹12,33,00,000 (Rupees Twelve Crore Thirty Three Lakh Only)
  • Issue Price per Warrant: ₹411 (Face Value: ₹10, Premium: ₹401)
  • Upfront Payment Received (25%): ₹3,08,25,000
  • Each warrant is convertible into 1 equity share of ₹10 face value

Dates of Action

  • Shareholder Approval via Postal Ballot: May 09, 2026
  • BSE In-principle Approval: June 09, 2026 (approval letter dated)
  • Board Approval via Circular Resolution: June 22, 2026 (last approval received at 4:20 PM IST)
  • Allotment Date: June 22, 2026
  • Conversion Period: 18 months from allotment date (until December 22, 2027)

Parties Involved

The warrants were allotted to the following promoter and promoter group entities:

1. Mr. Brij kishor Kishangopal Soni (Promoter) - 100,000 warrants, ₹1,02,75,000 upfront payment

2. Mrs. Aruna Brijkishor Soni (Promoter) - 100,000 warrants, ₹1,02,75,000 upfront payment

3. Ecoreco Ventures Private Limited (Promoter) - 100,000 warrants, ₹1,02,75,000 upfront payment

Conversion Terms and Conditions

  • Warrants are convertible into equity shares in one or more tranches within 18 months from allotment date
  • Balance 75% of issue price (₹308.25 per warrant) must be paid for conversion
  • If balance amount is not paid within 18 months, the warrant will lapse and the 25% upfront amount will be forfeited
  • Warrants are being allotted in dematerialized form
  • Warrants are subject to lock-in as per applicable provisions of SEBI ICDR Regulations

Capital Structure Impact

Since the company has allotted warrants which are yet to be converted into equity shares, there is no change in the paid-up equity share capital of the company at this time.

Additional Information

  • The complete disclosure is available on the company's website at https://ecoreco.com
  • The disclosure includes Annexure A with detailed information as required by SEBI regulations