Chemtech Industrial Valves Ltd. Allots Equity Shares Following Convertible Warrant Conversion
Chemtech Industrial Valves Ltd. announced the allotment of 5,00,000 equity shares on March 27, 2026, resulting from the conversion of convertible warrants. The allotment was made to promoter and promoter group entities.Harsh Pradeep Badkur and Puneet Pradeep Badkur, both categorized as promoter group members, received 2,50,000 equity shares each. The total value received by the company on the conversion of convertible warrants was Rs. 7,50,00,000.
The conversion price was Rs. 150 per warrant, entitling holders to the equity shares with a face value of Rs. 10 each. The issue price per equity share was Rs. 200, including a premium of Rs. 190. The company had previously issued and allotted the convertible warrants on a preferential basis on October 1, 2024.
Following the allotment, the company’s paid-up equity share capital increased from Rs. 17,93,73,330, consisting of 1,79,37,333 equity shares, to Rs. 18,43,73,330, comprising 1,84,37,333 equity shares. The board meeting concluded at 3:30 P.M. There were two investors involved in the conversion.
Table: Allotment of Equity Shares
| Sr. No. | Name of the Allottees | Category | No. of Equity Shares Allotted |
|---|---|---|---|
| 1. | Harsh Pradeep Badkur | Promoter Group | 2,50,000 |
| 2. | Puneet Pradeep Badkur | Promoter Group | 2,50,000 |
| Total | 5,00,000 |
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