Hi-Tech Pipes Limited Allots 90 Lakh Fully Convertible Equity Warrants to Promoter Group
Hi-Tech Pipes Limited announced the allotment of Ninety Lakhs (90,00,000) Fully Convertible Equity Warrants (FCWs) on a preferential basis to members of the Promoter Group. The decision was made by the Securities Allotment Committee during its meeting held on July 31, 2026.These warrants each convertible into one Ordinary Equity Share, which has a face value of Re. 1/-. The allotment took place upon receipt of subscription money totaling Rs. 25 per warrant, representing 25% of the total issue price of Rs. 100. This preferential allotment was directed towards specified entities within the Promoter and Promoter Group.
The allocation details are as follows:
| Allottee Name | Category | No. of Fully Convertible Equity Warrants |
|---|---|---|
| Mr. Vipul Bansal | Promoter Group | 20,00,000 |
| Aks Buildcon Private Limited | Promoter Group | 40,00,000 |
| Hi-Tech Agrovision Private Limited | Promoter Group | 30,00,000 |
| Total | 90,00,000 |
The total allotment of FCWs to the Promoter and Promoter Group members amounts to 90,00,000. Following this transaction, Hi-Tech Pipes Limited confirmed that there is no change in its paid-up equity share capital, shareholding pattern, or control of the Company.
Key terms regarding the warrants stipulate that each warrant holder is entitled to exercise the FCWs—in one or more tranches—upon payment of the remaining 75% of the Issue Price. The conversion must take place within a period of eighteen months from the date of allotment. The documents specify that if the balance payment is not received by the maximum tenure, the amount paid on the warrants will be retained by the Company.
HITECH Stock Price Movement
Today, Hi-Tech Pipes Limited shares gained 0.31%, concluding the trading day at ₹84.65. The stock saw a total traded volume of 253,529 shares in 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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