Kizi Apparels Ltd. Allots Convertible Warrants Worth ₹89.28 Crore
Kizi Apparels Ltd. announced on March 24, 2026, that its Board of Directors approved the allotment of 23,04,000 convertible warrants to promoters and public category investors. Each warrant entitles the holder to convert it into one fully paid-up equity share with a face value of ₹10.00 within 18 months. The warrants were allotted at a price of ₹15.50 per warrant, including a premium of ₹5.50 per warrant.The total consideration for the allotment amounts to ₹89.28 crore. Investors will pay 75% of the issue price at the time of exercising the option to convert the warrants into equity shares.
Details of the allottees and the consideration paid are as follows:
| Sr. No. | Name of the Allottee(s) | No. of Convertible Warrants allotted | 25% Consideration (Amount in Rs.) |
|---|---|---|---|
| 1 | Abhishek Nathani | 5,01,000 | 19,41,375 |
| 2 | Kiran Nathani | 3,99,000 | 15,46,125 |
| 3 | Raj Kumar Nathani | 3,00,000 | 11,62,500 |
| 4 | Suchitra Nathani | 3,00,000 | 11,62,500 |
| 5 | Surinder Goel | 69,000 | 2,67,375 |
| 6 | Surinder Goel HUF | 1,29,000 | 4,99,875 |
| 7 | Umang Kamlesh Vora | 1,02,000 | 3,95,250 |
| 8 | Paresh J Patel | 1,02,000 | 3,95,250 |
| 9 | Parshva Alloys Private Limited | 2,01,000 | 7,78,875 |
| 10 | Evolvion Advisory Private Limited | 2,01,000 | 7,78,875 |
| Total | 23,04,000 | 89,28,000 |
Abhishek Nathani, Managing Director, holds a significant portion of the allotted warrants.
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