Key Quantitative Figures
- Number of warrants converted: 9,00,000
- Number of equity shares allotted: 90,00,000
- Face value per share: Re.1/- each
- Issue price per equity share: ₹16.983 (including premium of ₹15.983 each)
- Original warrant issue price: ₹169.83 each
- Balance amount received: ₹11,46,35,250
- Balance payment per warrant: ₹127.37 (75% of issue price)
- Initial subscription payment: 25% of issue price (₹42.46 per warrant)
- Post-allotment paid-up capital: ₹24,96,58,870
- Post-allotment total shares: 24,96,58,870 equity shares of Re.1/- each
Dates of Action
- Warrant Committee meeting date: 12th June 2026
- Share sub-division approval date: 5th November 2024 (via postal ballot)
- Warrant conversion tenure: 18 months from date of allotment
Parties Involved
- Allottees belonging to "Promoter Category":
1. Mr. Vasantrai Sachin Mehta - 4,50,000 warrants converted to 45,00,000 equity shares
2. Mr. Vasantrai Hemal Mehta - 4,50,000 warrants converted to 45,00,000 equity shares
- Regulatory bodies: BSE Limited, SEBI
Capital Structure Impact
- Pre-allotment capital: Not explicitly stated
- Post-allotment capital: ₹24,96,58,870 consisting of 24,96,58,870 equity shares
- Shareholding pattern change:
- Promoter/Promoter Group: 58.93%
- Non-promoter: 41.07%
- The newly allotted equity shares rank pari-passu with existing equity shares
Warrant Terms and Conditions
- Each warrant carries right to subscribe to 1 equity share
- Conversion can be exercised in one or more tranches within 18 months from allotment date
- 25% of issue price paid at subscription, balance 75% payable upon exercise
- Unexercised warrants after 18 months lapse with forfeiture of amount paid
Adjustments and Corporate Actions
The number of shares, paid-up capital per share, and premium per share were adjusted post sub-division undertaken by the Company with member approval via postal ballot announced on 5th November 2024.