Eleganz Interiors Limited Approves Allotment of 8 Lakh Convertible Warrants on Preferential Basis
Eleganz Interiors Limited announced that its Board of Directors approved the allotment of 8,00,000 Convertible Warrants (CWs) to a promoter group on a preferential basis. The decision was taken during the Board meeting held on Tuesday, June 2, 2026.The allotment involves 8,00,000 warrants, which are convertible into an equivalent number of equity shares, each having a face value of Rs. 10/- (Rupees Ten Only). The warrants were issued at an issue price of Rs. 83/- (Rupees Eighty-Three Only) each, including a premium of Rs. 73/- (Rupees Seventy-Three Only).
The allotment was approved for Sameer Akshay Pakvasa, a promoter, who will receive the warrants on preferential basis. The total aggregate value of the 8,00,000 warrants amounts to Rs. 6,64,00,000/- (Rupees Six Crore Sixty-Four Lakhs Only).
Under the terms of allotment, the recipient is required to provide an initial subscription amount equivalent to 25% of the issue price. The remaining 75% of the issue price for each warrant shall be paid upon the exercise of the warrants. This balance payment must be completed within a period of eighteen months from the date of warrant allotment.
The company noted that upon conversion, fully paid-up equity shares of face value of Rs. 10/- shall be allotted against each warrant. Currently, the company confirmed there is no change in its paid-up share capital due to this allotment.
Key details regarding the preferential allotment of Convertible Warrants are summarized below:
| Detail | Value |
|---|---|
| Date of Board Meeting | June 2, 2026 |
| Number of Warrants Allotted | 8,00,000 (Eight Lakh) |
| Allottee | Sameer Akshay Pakvasa (Promoter) |
| Issue Price Per Warrant | Rs. 83/- |
| Face Value Per Share | Rs. 10/- |
| Premium Per Warrant | Rs. 73/- |
| Total Aggregate Value | Rs. 6,64,00,000/- |
| Conversion Window | 18 months from the date of allotment |
The allotment was made in line with the company's internal records and was detailed in the company's notice of the Postal Ballot dated March 27, 2026, read with the Corrigendum dated April 17, 2026.
ELGNZ Stock Price Movement
Eleganz Interiors Limited shed 8.78% of its value today, settling at ₹78.45. The stock traded on a volume of 64,000 shares, finding support near the day’s low of ₹78.35.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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