Key Quantitative Figures

  • Total warrants allotted: 84,75,000 (Eighty-Four Lakhs Seventy-Five Thousand) convertible warrants
  • Issue price per warrant: ₹22.50 (including a premium of ₹20.50 per warrant)
  • Total consideration: ₹9,50,06,250 (Nine Crore Fifty Lakh Six Thousand Two Hundred Fifty Rupees)
  • Face value of underlying equity shares: ₹2 per share
  • Tenure of warrants: 18 months from date of allotment

Dates of Action

  • Preferential Issue Committee meeting date: September 12, 2026
  • Meeting commencement time: 6:30 p.m.
  • Meeting conclusion time: 7:10 p.m.
  • Date of BSE in-principle approval: August 28, 2026 (BSE letter no. LOD/PREF/GB/FIP/719/2026-27)
  • Date of NSE in-principle approval: August 28, 2026 (NSE letter NSE/LIST/55319)

Parties Involved

Allottees (Promoters):

  • Sunil Jaykumar Pathare: 22,50,000 warrants (50% consideration paid: ₹2,53,35,000)
  • Kapil Jaykumar Pathare: 22,50,000 warrants (50% consideration paid: ₹2,53,35,000)

Allottees (Promoter Group):

  • Kanishk Sunil Pathare: 19,50,000 warrants (50% consideration paid: ₹2,19,57,000)
  • Avyukta Kapil Pathare: 19,50,000 warrants (50% consideration paid: ₹2,19,57,000)

Allottee (Non-Promoter):

  • Sonia Vyas: 75,000 warrants (25% consideration paid: ₹4,22,250)

Regulatory Authorities:

  • BSE Limited
  • National Stock Exchange of India Limited
  • Securities and Exchange Board of India (SEBI)

Company Officials:

  • Rahul Dwaraka Soni, Company Secretary and Compliance Officer (Membership No. A61305)

Conversion Terms

Each warrant is convertible into one equity share of face value ₹2 at any time within 18 months from the date of allotment. The conversion can be exercised in one or more tranches within the specified tenure.

Payment Structure

  • Promoters and promoter group have paid 50% of total consideration upfront
  • Non-promoter has paid 25% of total consideration upfront
  • Remaining payment required before conversion: 50% for promoters/promoter group, 75% for non-promoter

Committee Approval

The Preferential Issue Committee approved the allotment on September 12, 2026, following the in-principle approvals from BSE and NSE.

Additional Documentation

The disclosure includes Annexure A as required under Para A of Schedule III of Regulation 30 of SEBI LODR Regulations.