Key Quantitative Figures

  • Number of shares allotted: 2,63,157 (Two Lakh Sixty-Three Thousand One Hundred and Fifty-Seven) fully paid-up Equity Shares
  • Face value per share: Re. 10/- each
  • Issue price per share: Rs. 152/- (including a premium of Rs. 142/- per Equity Share)
  • Total aggregate amount: Rs. 3,99,99,864/-
  • Balance consideration received: Rs. 2,99,99,898/- (75% of total)

Dates of Action

  • Board resolution passed by circulation: Saturday, July 11, 2026
  • Resolution circulated: Friday, July 10, 2026
  • Original warrant allotment date: January 13, 2025
  • Extra-Ordinary General Meeting approval: January 08, 2025
  • Original board meeting for warrant allotment: January 13, 2025

Parties Involved

  • Issuing Company: Everest Organics Limited (CIN: L24230TG1993PLC015426)
  • Allottee: Dr. Sri Kakarlapudi Sirisha, Managing Director & Promoter of the Company
  • Regulatory Authority: BSE Limited (Scrip Code: 524790)
  • Regulatory Reference: SEBI Circular No. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023

Purpose and Rationale

Allotment of equity shares upon conversion of convertible warrants originally allotted on a preferential basis to the Managing Director & Promoter.

Regulatory Framework

  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 - Regulation 30
  • SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 - Chapter V
  • Preferential issue basis approved by members and board in January 2025

Capital Structure Impact

  • The allotted equity shares shall rank pari-passu with existing equity shares in all respects
  • Subject to lock-in period of 18 months from date of trading approval granted by BSE
  • Company will apply separately to BSE for listing and trading approval

Payment Structure

Total consideration of Rs. 3,99,99,864/- paid in two tranches:

  • 25% paid on allotment of warrants (January 2025)
  • Balance 75% (Rs. 2,99,99,898/-) paid upon conversion (July 2026)

Annexure Details

1. Allottee Category: Promoter (Managing Director)

2. Security Type: Equity Shares of face value Rs. 10/- each

3. Issuance Type: Conversion of Convertible Warrants (preferential basis)

4. Total Shares: 2,63,157

5. Issue Price: Rs. 152/- per share (Rs. 142 premium + Rs. 10 face value)

6. Total Amount: Rs. 3,99,99,864/-

7. Mode: Allotment upon conversion pursuant to Board Resolution dated July 11, 2026

#Tags: #EverestOrganics #SEBIRegulation30 #WarrantConversion #PromoterAllotment #CapitalStructure