Board Meeting Details
The Board of Directors meeting was held on Monday, October 19, 2026, commencing at 6:30 PM and concluding at 8:30 PM.
Transaction Details
The Board approved the allotment of 2,50,000 fully paid-up equity shares of face value ₹10 each pursuant to conversion of an equivalent number of warrants allotted on preferential basis to Mrs. Neera D Gor.
Warrant Background
The warrants were originally allotted on September 23, 2025, at an issue price of ₹332.86 per warrant, convertible into equity shares.
Financial Consideration
The company received warrant exercise consideration of ₹6,24,11,000 for the conversion of 2,50,000 warrants at an exercise price of ₹249.645 per warrant (75% of the original issue price of ₹332.86).
Allottee Information
- Name: Neera D Gor (Promoter)
- Warrants allotted: 2,50,000
- Warrants held before conversion: 2,50,000
- Warrants applied for conversion: 2,50,000
- Equity shares allotted: 2,50,000
Shareholding Impact
Pre-issue holding:
- 7,76,116 shares (6.26%)
Post-issue holding:
- 10,26,116 shares (8.11%)
Change: Increase of 2,50,000 shares, representing 1.85% increase in percentage holding.
Capital Structure Impact
Post-conversion, the issued, subscribed and paid-up share capital of the Company is ₹12,64,77,280 consisting of 12,647,728 equity shares of ₹10 each fully paid-up.
Warrant Terms and Conditions
- Each warrant carries right to subscribe to 1 equity share
- Conversion period: 18 months from date of allotment (September 23, 2025)
- Conversion can be exercised in one or more tranches
- Unexercised warrants after 18 months shall lapse with forfeiture of amount paid