Summary of Key Information:
Reporting Period (Quarter/Year): Not Applicable
Nature of Filing / Announcement: Regulatory filing pursuant to Regulation 30 and 51 of SEBI Listing Regulations - Outcome of Board Meeting regarding preferential issue of warrants
Audit Opinion:
Not Specified
Key Financial Highlights:
Not Specified
Standalone Results:
Not Specified
Consolidated Results:
Not Specified
Segment-wise Performance:
Not Specified
Corporate Actions:
The Board of Directors has approved a preferential issue of up to 82,94,000 warrants to Nithyam Realty Private Limited, a Promoter Group entity.
Warrant Details:
- Each warrant carries a right to subscribe to 1 (one) fully paid-up equity share of face value ₹2 each
- Issue price: ₹2,110 per warrant (including a premium of ₹2,108 per equity share)
- Total consideration: ₹1,750.03 crore
- Payment terms: 25% of issue price payable at subscription, remaining 75% payable upon exercise of warrants
- Tenor: 18 months from date of allotment
- Exercise: May be exercised in one or more tranches during the tenor
- Unconverted warrants shall lapse, and amount paid shall stand forfeited
Post-Issue Shareholding Impact:
- Nithyam Realty Private Limited will hold 82,94,000 equity shares (3.53% post-issue fully diluted shareholding)
- This assumes full exercise of all warrants and does not account for possible future issuances or ESOP exercises
Pricing Details:
- Approved issue price: ₹2,110 per equity share (upon exercise)
- Floor price as per SEBI ICDR Regulation 164(1): ₹2,085.06 per equity share
- Issue price premium over floor price: ₹24.94 per share
Governance Approval:
- Extra-ordinary General Meeting scheduled for Saturday, 19th September, 2026 to seek shareholder approval
- Committee of Directors (Administration, Authorisation & Finance) authorized to take necessary decisions
Other Significant Information:
The detailed disclosures regarding the Preferential Issue and the Investment Agreement are enclosed as Annexure I and Annexure II respectively to the filing.