Interiors & More Limited Approves Preferential Allotment of Convertible Warrants
Interiors & More Limited announced that its Board of Directors approved the issuance of Fully Convertible Warrants (FCWs) through a preferential allotment route. The decision was made during a board meeting held on July 18, 2026.The company has approved the creation and offer of an aggregate of 15,54,000 FCWs to identified promoters and entities from the non-promoter category. These warrants are set to be purchased for cash consideration and each warrant is convertible into one equity share of face value Rs. 10/-.
The preferential issue has an investment target of up to Rs. 27,81,66,000. The purchase price for the FCWs was set at Rs. 179/- per warrant. Investors who acquire these warrants have a conversion period of 18 months from the date of allotment to apply for equity shares.
Governance and Next Steps
Following the approval of the preferential issue by the Board, the company also approved convening an Extraordinary General Meeting (EGM) of its members. This EGM is scheduled for August 14, 2026, and will be conducted through video conferencing to seek shareholder consent for the issuance of the FCWs to the identified promoters and non-promoter category individuals and entities.To ensure transparency in the voting process, M/s D.A. Kamat & Co., Practicing Company Secretaries, were appointed as the Scrutinizer for the EGM.
Allotment Details Confirmed
The preferential allotment was completed with six investors acquiring the warrants. These investors include both promoter and public category entities.Details of the allotted warrants, their investment amounts, and the issue price are summarized below:
| Category | Investor Name | Number of Warrants (Up to) | Investment Amount (Approx.) | Issue Price per Warrant |
|---|---|---|---|---|
| Promoter | Rajiv Jhunjhunwala | 3,88,800 | Rs. 6,95,95,200 | Rs. 179/- |
| Promoter | Manish Mohan Tibrewal | 3,88,200 | Rs. 6,94,87,800 | Rs. 179/- |
| Public | Gretex Corporate Services Limited | 1,99,800 | Rs. 3,57,64,200 | Rs. 179/- |
| Public | Signageus Value Advisors Private Limited | 1,87,200 | Rs. 3,35,08,800 | Rs. 179/- |
| Public | Kamal Jagdish Gupta | 1,95,000 | Rs. 3,49,05,000 | Rs. 179/- |
| Public | Sonal Kamal Gupta | 1,95,000 | Rs. 3,49,05,000 | Rs. 179/- |
The company noted that if the entitlement to apply for equity shares against these warrants is not exercised by the warrant holder within the 18-month period, the associated rights will expire, and any amount paid shall be forfeited by the company.
INM Stock Price Movement
On Friday, shares of Interiors & More Limited shed 3.36%, closing at ₹171.00 after sliding down from the previous session's close. The equity saw a trading volume of 600 shares during the day.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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