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Warrants Convert: ₹84 Crore Injected!
29 Mar
Summary
- Company converted warrants into equity shares on March 28, 2026.
- ₹84.7 crore was received as the remaining subscription amount.
- 200.9 million equity shares were allotted to promoters and public.
As of March 28, 2026, a company announced the successful conversion of warrants into equity shares. This pivotal financial exercise was completed upon the receipt of the final subscription payment, amounting to ₹84,70,90,910.40.
The company's Board of Directors passed a resolution by circulation on March 28, 2026, approving the allotment of 20,09,70,560 equity shares. These shares, each with a face value of ₹1, were issued as a conversion of 2,00,97,056 warrants.
The conversion saw shares allotted to both 'Promoter Group' and 'Non-Promoter, Public Category' investors. This occurred after a share split, effective December 16, 2024, which changed the face value from ₹10 to ₹1 per share.
Each warrant was exercised at ₹42.15, representing 75% of the total issue price, adhering to previously established terms. The newly allotted equity shares will hold the same rights and privileges as the company's existing shares, ensuring parity.
