Ganesh Infraworld Limited Board Approves Preferential Allotment of Warrants for Up To 57 Lakh Units
Ganesh Infraworld Limited announced that its Board of Directors approved the issuance of warrants through a preferential allotment process, confirming details related to the proposed issue and subsequent steps. The company holds an Extraordinary General Meeting scheduled to ratify this decision.The approval centered on the issuing up to 57,12,000 warrants. These are set to be issued at an issue price of Rs. 90/- per warrant. Each warrant is convertible into one Equity Share of face value Rs. 5/- each. The issuance carries a premium of Rs. 85/- per Equity Share.
The Board also approved the Valuation Report provided by Ms. Nidhi Agarwal, a Registered Valuer, for use in relation to the issuance of these warrants.
Key Terms and Conditions of Warrants
According to the board resolution, the warrants are subject to specific terms set out in the SEBI ICDR Regulations, 2018. The company confirmed that each warrant will be compulsorily convertible into one equity share within 18 months from the date of allotment.The terms established for the Warrants include:
- Face Value: Rs. 5/- per warrant.
- Interest: Nil interest.
- Voting Rights: The warrants do not carry any voting rights.
Allotment and Stakeholder Details
The preferential allotment was intended for private placement, with the proposed allottees comprising non-promoters. These individuals and entities are set to acquire a combination of warrants, leading to varied post-preferential allotment shareholdings.A summary of the distribution and resulting ownership changes among the proposed allottees is provided below:
| Category | Total Warrants Proposed | Issue Price Per Warrant | Maximum Potential Convertible Shares |
|---|---|---|---|
| Warrants | 57,12,000 | Rs. 90/- | 57,12,000 |
The allotment structure includes several non-promoter investors who are expected to hold significant stakes post-issue. For example, Stellant Securities (India) Limited is proposed to receive 2,000,000 warrants, which represent a projected 4.13% of the Post Issue Holding. Similarly, Mr. Navin Kandoi and Mr. Ganesh Kandoi are each allocated 700,000 warrants, representing 1.45% of the Post Issue Holding.
The Board Meeting to consider this matter commenced at 01:30 P.M. and concluded at 4.38 P.M. The company also scheduled an Extraordinary General Meeting on Thursday, July 2, 2026, at 4:00 P.M. IST through video conference or other audio visual means to seek approval for the issuance.
GANESHIN Stock Price Movement
Shares of Ganesh Infraworld Limited gained 2.76% on Friday, closing at ₹82.85 per share. The stock traded a total of 116,800 shares during the session.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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