The Board approved the conversion of 5,00,000 warrants into 5,00,000 equity shares of face value ₹4 each. The conversion was exercised by warrant holders pursuant to SEBI ICDR Regulations, 2018.
Allotment Details
The allotment was made for cash upon receipt of the exercise price of ₹4.5 per share warrant, which represents 75% of the original warrant issue price of ₹6 per warrant. The total amount received aggregates to ₹22,50,000 (Rupees Twenty-Two Lakhs Fifty Thousand Only).
The newly allotted equity shares will rank pari-passu in all respects with the existing equity shares of the company, including entitlement to dividends.
Capital Structure Impact
Post this allotment, the paid-up equity share capital of the company has increased from ₹28,28,00,012 (Twenty-Eight Crore Twenty-Eight Lakhs and Twelve Only) to ₹28,48,00,012 (Twenty-Eight Crore Forty-Eight Lakhs and Twelve Only).
Allottee Information (Annexure A)
The conversion was executed by two warrant holders:
- Samit Kabra HUF (Public category): Converted 2,50,000 warrants into 2,50,000 equity shares, paying ₹11,25,000
- Mukesh Rathi (Public category): Converted 2,50,000 warrants into 2,50,000 equity shares, paying ₹11,25,000
Total: 5,00,000 warrants converted into 5,00,000 equity shares for ₹22,50,000
Additional Regulatory Details (Annexure B)
- Type of securities issued: Equity Shares pursuant to conversion of warrants
- Type of issuance: Preferential allotment on a private placement basis
- Total securities issued: 5,00,000 Equity Shares of face value ₹4 each
- Issue mechanism: Warrants were originally allotted on November 28, 2025, carrying the right to subscribe to 1 Equity Share per warrant upon receipt of 25% of the issue price (₹1.5 per warrant). The conversion now occurred upon receipt of the balance 75% of the issue price (₹4.5 per warrant)
- Number of investors: 2
The information has been made available on the company's website at www.istreetnetwork.com.