Key Quantitative Figures
- Warrant Issuance: Up to 55,00,000 (Fifty-Five Lakh) Convertible Warrants
- Issue Price: ₹397 per warrant (including premium of ₹387 per warrant)
- Total Amount: ₹218,35,00,000 (Rupees Two Hundred Eighteen Crore Thirty Five Lakhs)
- Conversion Terms: Each warrant convertible into 1 equity share within 18 months from allotment date
- Payment Structure: 25% payable on allotment, balance 75% payable at time of conversion
Parties Involved
Allottees Categories:
- Promoter/Promoter Group: 28,00,000 warrants (₹111.16 crore)
- Non-Promoter: 27,00,000 warrants (₹107.19 crore)
- Total Allottees: 85 investors
Key Appointments:
- Scrutinizer: Mr. Sumit Ghai, Managing Partner of Lal Ghai & Associates, Practicing Company Secretary
- Registered Valuer: CA Rochak Batta (Registration No. IBBI/RV/06/2019/12452)
- Monitoring Agency: CRISIL Ratings Limited
Capital Structure Impact
Pre-Issue Shareholding (as of June 10, 2026):
- Total shares: 12,244,000 (approximately)
- Promoter holding: 73.91%
- Sunita Rani: 6,260,000 shares (51.14%)
Post-Conversion Impact (assuming full exercise):
- Total shares: 17,744,000
- Promoter holding: 82.00%
- Sunita Rani: 7,060,000 shares (39.80%)
- Significant changes in individual holdings as detailed in Annexure II
Additional Board Approvals
- Opening of Special Bank Account for proceeds from the preferential issue
- Conduct of EGM through Video Conferencing/Other Audio-Visual Means facility
- E-voting process for the EGM
Financial Impact
The preferential issue will bring in ₹218.35 crore upon full subscription and conversion. The funds will be monitored by CRISIL Ratings Limited for utilization.
Voting Arrangements
The EGM will be conducted through VC/OAVM facility, with notice sent to members via email through the company's RTA/Depositories. E-voting will be supervised by the appointed scrutinizer.