Aanchal Ispat Ltd Board Approves Issuance of Up to 10.55 Lakh Fully Convertible Warrants
Aanchal Ispat Ltd announced decisions made by its Board of Directors during a meeting held on June 23, 2026. Among the key approvals was the raising of funds through the issuance of Fully Convertible Warrants (FCWs) on a preferential basis to the Promoter category.The company approved the offer for up to 10,55,000 FCWs with a face value of Rs. 10 each. The warrants are being offered at an issue price of Rs. 82 per warrant, aggregating up to Rs. 8,65,10,000.
Under the proposed issuance structure, only 25% of the Warrant Issue Price is payable at the time of subscription and allotment. The remaining 75% will be paid by the warrant holder upon the exercise of the warrants. Each FCW carries a right to subscribe for one equity share of the company, which can be exercised within a period of 18 months from the date of allotment.
Corporate Governance Updates
The Board also decided on key governance and structural matters related to the future capital structure.
A decision was made to alter the Articles of Association (AOA) by incorporating a new Article 14(3). This amendment grants the company the authority to issue, offer, and allot various convertible securities, including warrants, convertible debentures, or convertible preference shares, through preferential issues, private placements, or rights issues.
To seek shareholder approval for these matters, the Board approved convening an Extraordinary General Meeting (EGM) scheduled for Thursday, July 23, 2026. Furthermore, Manisha Saraf & Associates, a Practicing Company Secretary, was appointed as the Scrutinizer to ensure a fair and transparent e-voting process at the EGM.
Ownership and Financial Snapshot
The meeting addressed various aspects of the issuance, including ownership structure metrics, calculated assuming full subscription and conversion of all warrants into equity shares.
Key post-allotment data, related to Mukesh Goel's holding, is presented below:
| Metric | Pre preferential issue | Post preferential issue (Assuming full conversion) |
|---|---|---|
| Number of Shares Held by Mukesh Goel | 21,24,998 | 31,79,998 |
| Percentage Holding (%) | 50.20% | 60.13% |
The company confirmed that the tenure of the warrants shall not exceed 18 months from the date of allotment, allowing warrant holders to exercise their rights in tranches during this period.
Stock Price Movement
Aanchal Ispat Ltd. saw its shares settle at ₹100.25, gaining 5.00% after the close of trade today. The stock traded within an intraday range, having tested lows near ₹97.50 before topping out at ₹100.25.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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