Summary of Key Information:

Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 of SEBI (LODR) Regulations, 2015

Corporate Actions:

The Board considered and approved the allotment of 8,50,000 (Eight Lakhs Fifty Thousand) Equity Shares of ₹2 face value at a premium of ₹30 per equity share (total issue price ₹32 per share) pursuant to conversion of 8,50,000 Convertible Warrants. This conversion was done on a preferential basis to non-promoter allottees under SEBI (ICDR) Regulations, 2018.

This conversion represents part of the total 1,17,60,000 Convertible Warrants issued and allotted on January 16, 2025. Four allottees belonging to the Non-Promoter Group exercised their right to convert 8,50,000 warrants and deposited 75% of the consideration amount aggregating to ₹2,04,00,000 as warrants allotment money.

Consequent to this conversion, zero warrants remain outstanding as the entire 1,17,60,000 warrants allotted on January 16, 2025 have been fully converted into equity shares within the prescribed 18-month period.

The paid-up equity capital of the Company has increased from ₹25,83,80,000 consisting of 12,91,90,000 Equity Shares to ₹26,00,80,000 consisting of 13,00,40,000 Equity Shares of ₹2 each.

The new equity shares shall rank pari passu with the existing equity shares of the company in all respects, including payment of dividend and voting rights.

Allottee Details:

The preferential allotment was made to four non-promoter allottees:

  • Mayank Gupta: Allotted 4,50,000 shares (0.35% post-issue holding)
  • Adiraju Rajendra Prasad: Allotted 2,00,000 shares (0.15% post-issue holding)
  • Jayantilal Gada HUF: Allotted 1,00,000 shares (0.08% post-issue holding)
  • Total: 8,50,000 shares allotted to 4 investors, representing 0.65% of post-issue equity

All allottees had zero shareholding prior to this conversion.

Financial Impact:

  • Total funds received: ₹2,04,00,000 (75% of consideration amount for 8,50,000 warrants)
  • Total issue size: 8,50,000 shares at ₹32 per share (including ₹30 premium)
  • Equity capital increase: ₹17,00,000 (from ₹25,83,80,000 to ₹26,00,80,000)
  • Share count increase: 8,50,000 shares (from 12,91,90,000 to 13,00,40,000 shares)