Date: July 20, 2026
Board Meeting Outcomes
- The Board of Directors approved via circular resolution passed on July 20, 2026 the allotment of 1,70,000 equity shares of ₹10 each upon conversion/exchange of equal number of warrants
- The conversion was approved upon receipt of written notice and balance 75% payment from the warrant holder
Financial Results
- The new equity shares were allotted at an issue price of ₹285 per share (including premium of ₹275 per share)
- The company received ₹3,63,37,500 as balance 75% payment at the rate of ₹213.75 per warrant
- Consequent to this allotment, the issued and paid-up capital increased from ₹19,11,01,980 (1,91,10,198 equity shares) to ₹19,28,01,980 (1,92,80,198 equity shares)
- The new equity shares will rank pari-passu with existing equity shares
Ownership & Market Activity
- Allotment made to Ms. Fatema Kachwala (Promoter category)
- Original warrant allotment: 4,05,000 warrants on January 28, 2025
- Previous conversions: 1,60,000 warrants converted prior to this conversion
- Current conversion: 1,70,000 equity shares allotted
- Outstanding warrants remaining for conversion: 75,000
Fundraising / Financing Details
- Original warrant issue price: ₹285 per warrant
- Initial payment: 25% (₹71.25 per warrant) paid at time of allotment on January 28, 2025
- Balance payment: 75% (₹213.75 per warrant) paid at time of conversion
- Warrant tenure: 18 months from date of allotment (until approximately July 2026)
- Warrants can be exercised in one or more tranches during the 18-month period
- Unexercised warrants after 18 months will lapse and initial payment will be forfeited