Indiabulls Ltd announces massive preferential issue of Warrants totaling INR 1000 Crore at an EGM

Indiabulls Ltd announces massive preferential issue of Warrants totaling INR 1000 Crore at an EGM​

Indiabulls Ltd., formerly Yaari Digital Integrated Services Limited, has announced plans for a significant capital raise through the issuance of convertible warrants in a private placement. The company is seeking shareholder approval for this special resolution at an Extraordinary General Meeting (EGM) scheduled for Thursday, July 2, 2026.

The preferential issue involves offering up to 51,55,00,000 warrants, each priced at INR 19.40. The total aggregate consideration sought from the investors is set at INR 1000,07,00,000 (Rupees One Thousand Crore and Seven Lacs only). These warrants are convertible into fully paid-up equity shares of face value Rs. 2/- upon payment of the required subscription amount.

The issue involves both Promoter Group Entities and Non-Promoter Group Entities. Key investors committed to the purchase include Phanes Limited and Hermes Limited from the Promoter Group, while EBISU Global Opportunities Fund Limited and Nyaasa Global Fund VCC - Nyaasa India EM Sub Fund are participating as Non-Promoter Group entities.

The allocation details for the warrants across the four identified investors are as follows:


*The percentages are based on the assumption of full subscription and conversion of all proposed warrants, including outstanding Employees Stock Options aggregating to 2,18,29,500 as of June 10, 2026.

Use of Proceeds and Terms​

The company has outlined four primary objects for the utilization of the issue proceeds: two focused on funding growth plans for subsidiaries (totaling INR 400 Million and INR 150 Million), one for working capital requirements of the parent company (INR 400 Million), and a remaining amount designated for general corporate purposes (INR 50,07,00,000). The total estimated amount is congruent with the raised capital.

Key material terms governing the warrants include:

• Conversion: Each warrant must be converted into one fully paid-up equity share of face value Rs. 2/- upon payment of the full Issue Price (INR 19.40).
• Payment Structure: An amount equivalent to 25% of the Issue Price is payable at allotment, with the remaining 75% due upon exercise for conversion.
• Timeline: Warrants are expected to be allotted within 15 days of receiving shareholder approval or regulatory permissions. The right to exercise the warrants must be exercised within an 18-month period from the date of allotment.

Market and Financial Context​

The pricing of INR 19.40 was determined through a rigorous process involving various market data points. The floor price calculation, as per Articles of Association, was supplemented by a Valuation Report obtained from Mr. Manish Malhotra, a SEBI Registered Valuer. This valuation report set the price at INR 19.37 per equity share. The Issue Price has been set higher than both the floor price and the valuation report.

The company noted that there will be no change in control resulting from the Preferential Issue. Additionally, the board is authorized to finalize, approve, and modify the terms of the issue as deemed fit, provided it aligns with mutual agreement with the Investors.

EGM Details​

The shareholders interested in the matter are advised that the EGM will be held through Video Conferencing (VC) or Other Audio Visual Means (OAVM). The remote e-voting period is scheduled from Monday, June 29, 2026, until Wednesday, July 1, 2026.

IBULLSLTD Stock Price Movement​

Today, Indiabulls Limited shares edged higher to settle at ₹24.68, gaining 1.06% in post-market trading after hitting a significant intraday peak. The rally concluded with the stock reaching its 52-week high as it traded on robust volume of 5.47 million shares today.