Event Details

The Board of Directors approved the allotment of equity shares upon conversion of convertible warrants that were previously allotted on a preferential basis to non-promoters.

Historical Context

The convertible warrants were originally allotted on May 16, 2026, pursuant to shareholder approval obtained in an Extra-Ordinary General Meeting held on January 08, 2026. This approval was based on documents including a notice and explanatory statement dated December 17, 2025, with subsequent corrigenda dated January 01, 2026.

Conversion Details

Warrant holders paid the remaining 75% of the total consideration amounting to ₹1,60,03,876 and applied for conversion of 17,78,180 warrants into an equivalent number of equity shares.

Allotment Breakdown

The Board allotted 17,78,180 Equity Shares of face value ₹10 each to the following warrant holders:

  • Shiven Bharat Poojary: 8,37,416 shares (Amount received: ₹75,37,000)
  • Sumita Arora: 7,00,000 shares (Amount received: ₹63,00,000)
  • Rohan Rana: 1,00,000 shares (Amount received: ₹9,00,000)
  • Gaurav Rana: 8,588 shares (Amount received: ₹77,292)
  • Vincent Arun D'souza: 8,588 shares (Amount received: ₹77,292)
  • Harish Suvarna: 8,588 shares (Amount received: ₹77,292)
  • Rosario Gurjao: 8,588 shares (Amount received: ₹77,292)
  • Vishal Balhara: 15,000 shares (Amount received: ₹1,35,000)

Payment Structure

The company had previously received 25% of the total consideration (₹4,44,545 for 4,44,545 warrants) at the time of warrant allotment on May 16, 2026. The recent payment of ₹1,60,03,876 represents the remaining 75% of the total consideration for 17,78,180 warrants.

Share Characteristics

The equity shares were allotted in dematerialized form and rank pari passu with existing Equity Shares of the Company in all respects, subject to lock-in period restrictions as prescribed under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Issue Details

  • Type of securities: Equity Shares of face value ₹10 each
  • Type of issuance: Conversion of warrants originally issued through preferential allotment
  • Total securities: 17,78,180 Equity Shares
  • Issue price: ₹22 per share (₹10 face value + ₹12 premium)
  • Total consideration: ₹3,91,19,960 (100% received)
  • Conversion period: 18 months from date of allotment (May 16, 2026)

Meeting Details

The Board meeting commenced at 02:00 PM and concluded at 02:55 PM on June 18, 2026.