Ganesh Green Bharat Limited Board Approves Issue of Convertible Warrants

Ganesh Green Bharat Limited Board Approves Issue of Convertible Warrants​

Ganesh Green Bharat Limited announced that its Board of Directors, in a meeting held on May 30, 2026, approved and recommended taking shareholder consent through a Special Resolution for the alteration of Articles of Association related to the issuance of Convertible Warrants on a preferential basis.

The Board approved the issuance of up to 1,99,000 Fully Convertible Equity Warrants (Warrants). These warrants are convertible into Equity Shares of the Company, each having a face value of Rs. 10 (Rupees Ten Only).

The Warrants are priced at Rs. 344.34 (Rupees Three Hundred Forty Four and Thirty Four Paise only) per warrant, which includes a premium of Rs. 334.34 (Rupees Three Hundred Thirty Four and Thirty Four Paise only) per warrant. The total aggregate value of the proposed issuance is up to Rs. 6,85,23,660/- (Rupees Six Crore Eighty Five Thousand Twenty Three Thousand Six Hundred Sixty Only).

Key Allottee Details

The Warrants are scheduled to be issued to the Promoter and Promoter's Group on a preferential basis. The detailed breakdown of the proposed allottees and the total consideration is as follows:


Payment Structure and Key Dates

The payment terms stipulate that an amount equivalent to 25% of the Warrant Issue Price must be paid at the time of subscription and allotment of each Warrant. The remaining 75% must be paid by the Warrant holder(s) upon the exercise of the Warrant(s).

The Warrants are set to be issued to the Promoter's Group based on cash consideration and will be convertible into Equity Shares. Furthermore, each Warrant is convertible into one fully paid-up equity share of the Company of face value of ₹10. The conversion can be exercised in one or more tranches within a period of 18 months commencing from the date of allotment of Warrants.

Upcoming Shareholder Actions and Corporate Governance

The Company has scheduled an Extraordinary General Meeting (EGM) on Thursday, June 25, 2026, at 11:30 A.M. (IST). This EGM is intended to seek shareholder approval for the proposed issuance of Convertible Warrants on a preferential basis, among other matters.

Regarding the valuation for the Warrants, the Board noted the Valuation Report submitted by Den Valuation (OPC) Private Limited. The Relevant Date fixed for the issue of Warrants, in line with corporate regulations, is Tuesday, May 26, 2026, which is 30 days prior to the EGM.

Additionally, the Board of Directors appointed CS Nigamkumar Govindbhai Sathavara, Sole Proprietor of M/s. N G S & Associates, as the Scrutinizer to oversee the e-voting process for the EGM, ensuring a fair and transparent process.

Finally, the Board of Directors decided that the previously mentioned agenda of increasing the authorized Share Capital of the Company is revoked at this time.

GGBL Stock Price Movement​

Ganesh Green Bharat Limited shares slipped by 1.03% on Friday, settling at ₹343.55 in after-hours trading. The stock traded on a total volume of 43,800 shares during the session.