NITCO Limited has filed a regulatory disclosure with BSE Limited and National Stock Exchange of India Limited regarding the allotment of equity shares resulting from the conversion of convertible warrants held by a promoter.

The disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Background and Approvals

The company had originally issued 2,34,10,000 convertible warrants to promoter Vivek Prannath Talwar on January 27, 2025, through a preferential allotment. This issuance was approved by shareholders at an Extra-Ordinary General Meeting held on November 15, 2024, and received in-principle approvals from both stock exchanges:

  • BSE Limited: Ref. No. LOD/PREF/HC/FIP/1696/2024-25 dated January 15, 2025
  • National Stock Exchange: Ref. No. NSE/LIST/44909 dated January 16, 2025

The warrant issue price was ₹92.25 per warrant, with 25% of the issue price received as initial subscription amount at the time of warrant allotment.

Previous Conversions

Out of the total 2,34,10,000 warrants, 1,79,04,065 warrants were previously converted into equity shares on two dates:

  • March 23, 2026
  • July 23, 2026

These conversions occurred upon receipt of the balance 75% of the issue price.

Current Allotment

The Board of Directors of the Company, via Circular Resolution dated July 24, 2026, approved the allotment of 55,05,935 equity shares of face value ₹10 each at a premium of ₹82.25 per share to Mr. Vivek Prannath Talwar, Promoter, Chairman & Managing Director of the Company. This allotment represents the conversion of the remaining convertible warrants upon receipt of the balance subscription amount (75% of the issue price).

Financial Details

  • Total equity shares allotted: 55,05,935
  • Face value per share: ₹10
  • Premium per share: ₹82.25
  • Total issue price per share: ₹92.25
  • Amount received for conversion: ₹38,09,41,878 (representing 75% of the issue price for 55,05,935 warrants)
  • No warrants remain pending for conversion

Shareholding Impact

Mr. Vivek Prannath Talwar's shareholding has changed as follows:

  • Pre-issue holding: 2,77,27,734 equity shares (11.53%)
  • Post-issue holding: 3,32,33,669 equity shares (13.15%)
  • Increase in holding: 1.62 percentage points

The newly allotted equity shares will rank pari-passu with existing equity shares of the Company in all respects and are subject to lock-in requirements as prescribed under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations 2018.