Allotment Details: 83,33,335 equity shares of face value ₹5 each allotted
Warrants Converted: 16,66,667 warrants converted (out of total 38,50,000 warrants originally allotted)
Funds Received: ₹50,00,00,100 (Rupees Fifty Crore and Hundred only) received at the rate of ₹300 per warrant (being 75% of the issue price)
Issue Price: Original warrant issue price was ₹400 per warrant (including premium of ₹390 per share)
Initial Payment: 25% of issue price (₹100 per warrant) was received at the time of warrant allotment on August 22, 2025
Dates of Action
Warrant Allotment Date: August 22, 2025
EOGM Date: August 26, 2025 (approved sub-division and bonus issue)
Conversion Approval Date: August 27, 2026 (Executive Committee meeting)
Meeting Time: 12:30 PM to 1:30 PM
Parties Involved
Allottee: JHV Commercials LLP (Promoter Category)
Regulatory Authority: BSE Limited, SEBI
Officer: Daksh Tulsibhai Mewada, Company Secretary & Compliance Officer
Corporate Actions Impacting Conversion
Face Value Sub-division: Equity shares sub-divided from ₹10 to ₹5 each (approved at EOGM on August 26, 2025)
Bonus Issue: 3:2 bonus ratio (3 bonus shares for every 2 existing shares)
Conversion Entitlement: Each original warrant (convertible to 1 share of ₹10) now entitles holder to 5 equity shares of ₹5 each (2 from sub-division + 3 bonus shares)
Capital Structure Impact
Pre-allotment Capital: ₹36,03,75,000 comprising 7,20,75,000 equity shares of ₹5 each
Post-allotment Capital: ₹40,20,41,675 comprising 8,04,08,335 equity shares of ₹5 each
Capital Increase: ₹4,16,66,675 increase in paid-up equity share capital
Pending Conversions
Warrants Still Pending: 21,83,333 warrants remain for conversion
Conversion Rights: Warrant holders (Promoter and Public) can exercise conversion rights upon payment of balance consideration as per SEBI (ICDR) Regulations, 2018
Additional Information from Annexure
Type of Securities: Equity shares of face value ₹5 each
Type of Issuance: Preferential allotment on conversion of warrants
Total Warrants Originally Allotted: 38,50,000 convertible warrants
