Akash Infra Projects Limited Approves Allotment of 40 Lakh Convertible Warrants
Akash Infra Projects Limited announced that its Board of Directors, during a meeting held on April 7, 2026, approved the allotment of Convertible Warrants to allottees.The board approved the allotment of 40,00,000 (Forty Lakh) convertible warrants, each issued at an issue price of Rs. 40/- (Rupees Forty only). The total subscription amount required is Rs. 4,00,00,000/- (Rupees Four Crore only), equivalent to 25% of the Issue Price.
The allotted securities will be in dematerialized form and are subject to a lock-in period as per ICDR Regulations. This allotment was made pursuant to a special resolution passed by the shareholders at the Extraordinary General Meeting on March 16, 2026.
The company confirmed that the warrants will be convertible into an equal number of equity shares at any time within a period of 18 months from the date of allotment, subject to applicable terms and conditions upon exercise of the option of conversion by the warrant holder. The price for conversion will be Rs. 40/- or a higher price as determined by the pricing formula prescribed under Regulations 164, 165, and 166 of the SEBI ICDR Regulations, whichever is higher.
Details of Allotment
The allotment details, which cover 19 investors, are provided below. The total allotment stands at 40,00,000 warrants.| Sr. No. | Name of the Allottee | Category of the allottee | No. of Convertible Warrants to be allotted |
|---|---|---|---|
| 1. | Yoginkumar Patel | Promoter | 7,00,000 |
| 2. | Ambusinh Gol | Promoter | 5,00,000 |
| 3. | Dineshbhai Patel | Promoter Group | 2,00,000 |
| 4. | Akash Y Patel | Promoter Group | 1,00,000 |
| 5. | Patel Kamlaben | Promoter Group | 2,00,000 |
| 6. | Vinodbhai Haribhai Patel | Promoter Group | 1,00,000 |
| 7. | Shilpa Vinod Patel | Promoter Group | 1,00,000 |
| 8. | Priyal Dineshbhai Patel | Promoter Group | 1,00,000 |
| 9. | Daxrajsinh Gol | Promoter Group | 2,50,000 |
| 10. | Premalsinh Punjaji Gol | Promoter Group | 5,00,000 |
| 11. | Gol Jasjitsinh Premalsinh | Promoter Group | 2,50,000 |
| 12. | Ajay K Gadhvi | Public | 1,25,000 |
| 13. | Ramaben Kishordan Gadhavi | Public | 1,25,000 |
| 14. | Dhavalkumar Dajubhai Rathavi | Public | 1,25,000 |
| 15. | Rathavi Namrata Dhavalkumar | Public | 1,25,000 |
| 16. | Kirtikumar J Patel | Public | 1,25,000 |
| 17. | Belaben Kirtikumar Patel | Public | 1,25,000 |
| 18. | Kaushikkumr Gordhanbhai Patel | Public | 1,25,000 |
| 19. | Patel Binaben K | Public | 1,25,000 |
The allotment status, detailing the pre-preferential holdings and post-preferential holdings, is available in the attached annexures. Notably, Premalsinh Punjaji Gol's holding is detailed as 15,00,000 shares post-preferential, representing 7.19% of the holding.
AKASH Stock Price Movement
Akash Infra-Projects Limited shares edged higher to close at ₹25.69 on Tuesday, gaining 1.74% from the previous close. The stock rallied on a total volume of 1,691 shares traded during the session.Source:
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