EPIC Energy Ltd. Allots Convertible Warrants
EPIC Energy Ltd. announced on March 24, 2026, that its Board of Directors approved the allotment of 38,00,000 convertible warrants at an issue price of Rs.50 per warrant. The total amount raised through this allotment is Rs.4,75,00,000.The warrants were allotted to promoters and non-promoter investor category allottees at a warrant subscription price of Rs.12.50. Each warrant is convertible into one fully paid up equity share of Rs.10 face value, upon payment of a balance consideration of Rs.37.50.
The Board meeting commenced at 11:15 A.M and concluded at 11:55 A.M.
Details of Allottees
The following table summarizes the allotment of warrants by allottee category:
| Name of the Proposed Allottees | No. of Convertible Warrants Allotted | Amount (₹) | Category |
|---|---|---|---|
| Nikhil Champaklal Morsawala | 6,00,000 | 75,00,000 | Promoter |
| Veena Nikhil Morsawala | 6,00,000 | 75,00,000 | Promoter |
| Soleos Solar Energy Pvt. Ltd. | 20,00,000 | 2,50,00,000 | Non Promoter |
| Nikhil Vinod Pandya | 1,00,000 | 12,50,000 | Non Promoter |
| Bhalchandra Ramrao Kadam | 1,00,000 | 12,50,000 | Non Promoter |
| Rajeev Jagannath Anand | 1,00,000 | 12,50,000 | Non Promoter |
| Sahil Raman Anand | 1,00,000 | 12,50,000 | Non Promoter |
| Keki M. Mistry | 50,000 | 6,25,000 | Non Promoter |
| Sanjay Agarwal | 1,50,000 | 18,75,000 | Non Promoter |
| Total | 38,00,000 | 4,75,00,000 |
The allotment follows approval from shareholders on December 18, 2025 and an in-principle approval from BSE Limited on March 10, 2026.
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