Jainik Power Cables Approved Issuance of Convertible Warrants and Increase in Authorized Capital
Jainik Power Cables Limited, formerly known as Jainik Power And Cables Limited, announced that its Board of Directors approved two significant corporate actions: a fund raising initiative through convertible warrants and an increase in the company's authorized capital. These decisions are subject to shareholder approval.The board meeting, held on July 21, 2026, considered and approved the proposal for issuing up to 3,00,000 Convertible Warrants. The warrants were set at a price of Rs. 151.50 per warrant. Upon conversion, these warrants carry the right to acquire one Equity Share of the company, which has a face value of Rs. 10, and carries a premium of Rs. 141.50 per share. This issuance is designed to raise up to Rs. 45,45,00,000 from entities across Promoter, Promoter Group, and Non-Promoter categories on a preferential basis.
In addition to the fundraising approval, the company sanctioned a proposal to increase its authorized capital from Rs. 15,00,00,000 to Rs. 20,00,00,000, pending ratification by the members of the company.
Warrants and Capital Structure Details
The issuance involves convertible warrants that can be exercised for up to one Equity Share per warrant. The conversion window is set at eighteen months from the date of allotment. Investors are required to pay an amount equivalent to 25% of the Warrant price upon allotment, with the remaining 75% payable when the warrants are converted into equity shares.The total number of convertible warrants proposed for issuance is 30,00,000.
The allocation of these warrants was distributed among various categories, as detailed below:
| Category | Total Number of Warrants Allotted |
|---|---|
| Promoter/Promoter Group | 12,68,400 |
| Non-Promoter/Other | 17,31,600 |
Outcome of Subscription and Shareholding Changes
The company provided detailed outcomes of the warrant subscription and subsequent allotment of equity shares. The data shows changes in shareholding percentages for several promoter and non-promoter entities as of July 17, 2026, before and after the issuance and conversion process.Key figures from the post allotment results include:
| Entity Name | Category | Pre-issue Shares (as of July 17, 2026) | Post-issue Shares (after conversion) | Percentage Holding (Post-issue) |
|---|---|---|---|---|
| Shashank Jain | Promoter/Individual | 30,14,800 | 31,27,600 | 18.03% |
| Prateek Jain | Promoter/Individual | 18,60,800 | 24,83,600 | 14.32% |
| Anju Jain | Promoter/Individual | 15,84,000 | 16,96,800 | 9.78% |
| Subhash Chand Jain | Promoter/Individual | 12,71,400 | 13,84,200 | 7.98% |
| Kolumbus Financial Advisory Services LLP | Non-Promoter/ Others | - | 4,02,000 | 2.32% |
The company has scheduled an Extraordinary General Meeting (EGM) to be held on Friday, August 14, 2026, via Video Conferencing (VC)/Other Audio-Visual Means (OAVM), where the decisions are expected to be ratified by the members.
JAINIK Stock Price Movement
Jainik Power Cables Limited shares gained sharply in the post-market trading session, settling at ₹189.95 after rising 5.09% today. The rally saw the stock hit its 52-week high and closed on a strong volume of 40,800 shares.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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