Kesar Petroproducts Completes Equity Share Allotment and Forfeits Warrants in Board Meeting
Kesar Petroproducts Ltd announced significant capital structure movements following its Board of Directors meeting held on June 08, 2026. The company completed the allotment of equity shares to its Promoter Group resulting from the conversion of convertible warrants, while simultaneously forfeiting upfront payments related to non-exercised warrants.The company allotted a total of 15,00,000 Equity Shares to the Promoter Group upon exercising their options regarding convertible warrants. The shares were issued at a premium of Rs 17.80/- per share and had a face value of Re 1/- each. This allotment was executed after receiving an amount totaling Rs 21,15,00,000/ which represented 75% of the balance amount on the warrants.
The Allottees from the Promoter Group were Dinesh Shankarlal Sharma and Shreyas Dinesh Sharma, who each received 75,00,000 Equity Shares after converting their respective warrants.
Financial details pertaining to the allotment are summarized below:
| Name of Allottee | Category | Number of Warrants Converted |
|---|---|---|
| Dinesh Shankarlal Sharma | Promoter Group | 75,00,000 |
| Shreyas Dinesh Sharma | Promoter Group | 75,00,000 |
Consequently, the Issued, Subscribed and Paid-up Equity Share Capital of Kesar Petroproducts Ltd increased to Rs 11,16,73,170/- effective June 08, 2026. The newly allotted equity shares will rank pari passu with existing equity shares of the company.
Forfeiture of Non-Exercised Warrants
In a related transaction during the same Board meeting, Kesar Petroproducts reported the forfeiture of warrants held by both Promoter and Non-Promoter Groups that failed to meet the required deadline for conversion into Equity Shares. A total of 52,00,000 warrants lapsed or were cancelled due to non-exercise.The upfront application money received against these warrants—amounting to Rs 2,44,40,000/- (representing the initial 25% of the Issue Size)—has been forfeited in accordance with the terms of the warrant issue.
Details regarding the forfeited warrants are provided below:
| Particulars | Details |
|---|---|
| Total Warrants Lapsed/Cancelled | 52,00,000 |
| Amount Forfeited | Rs 2,44,40,000/- |
The non-promoter warrant holders who failed to convert their warrants included Rajesh Kumar Dugar (1,50,000), Tanushree Panjwani (1,50,000), Vincent Commercial Co. Limited (19,00,000), and Pooja Jain (2,00,000).
Stock Price Movement
Kesar Petroproducts Ltd shares settled at ₹15.74 today, climbing 3.42% in the market close. The stock experienced a volatile session, trading within an intraday range bounded by ₹14.14 and ₹15.90.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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