NITCO Limited has made a disclosure under Regulation 30 of SEBI LODR Regulations regarding the allotment of equity shares upon conversion of share warrants to a promoter.

Key Quantitative Figures

  • Total warrants originally allotted: 2,34,10,000 convertible warrants
  • Warrants previously converted (March 23, 2026): 1,14,00,000 warrants
  • Current conversion: 65,04,065 equity shares allotted
  • Face value: ₹10 per share
  • Premium: ₹82.25 per share
  • Issue price per warrant: ₹92.25
  • Amount received for current conversion: ₹45,00,00,000 (75% of issue price)
  • Warrants still pending conversion: 55,05,935

Dates and Timeline

  • Shareholder approval: Extra-Ordinary General Meeting held on November 15, 2024
  • BSE in-principle approval: January 15, 2025 (Ref. No. LOD/PREF/HC/FIP/1696/2024-25)
  • NSE in-principle approval: January 16, 2025 (Ref. No. NSE/LIST/44909)
  • Original warrant allotment date: January 27, 2025
  • Previous conversion date: March 23, 2026
  • Current board approval: Circular Resolution dated July 23, 2026
  • Final conversion deadline: July 26, 2026 (18 months from original allotment)

Parties Involved

  • Allottee: Mr. Vivek Prannath Talwar (Promoter, Chairman & Managing Director)
  • Regulatory authorities: BSE Limited, National Stock Exchange of India Limited, SEBI

Capital Structure Impact

Pre-allotment holding of Mr. Vivek Prannath Talwar:

  • Number of equity shares: 2,12,23,669
  • Percentage holding: 8.82%

Post-allotment holding of Mr. Vivek Prannath Talwar:

  • Number of equity shares: 2,77,27,734
  • Percentage holding: 11.53%

Change in holding:

  • Increase in shares: 65,04,065 equity shares
  • Increase in percentage holding: 2.71%

Terms and Conditions

The newly allotted equity shares will rank pari-passu with existing equity shares of the company in all respects. The equity shares/warrants are subject to lock-in as prescribed under SEBI ICDR Regulations.

Subscription Details

At the time of original warrant allotment, 25% of the warrant issue price was received as initial subscription amount. The balance 75% of the issue price was received at the time of exercise of conversion option.

Financial Impact

The company has received ₹45,00,00,000 as the balance subscription amount for the current conversion of 65,04,065 warrants.