Magson Retail and Distribution Limited Allots Equity Shares Following Warrant Conversion
Magson Retail and Distribution Limited announced the allotment of 6,03,286 fully paid-up equity shares on Monday, March 30, 2026, resulting from the conversion of an equal number of convertible warrants. This follows prior approvals from shareholders and the National Stock Exchange of India Limited.The company had previously allotted 1,06,00,000 convertible equity warrants on April 17, 2025, at an issue price of ₹ 93.25 each. Warrant holders, including entities from the Promoters Group and Non-Promoter categories, exercised their conversion option and paid the remaining 75% of the issue price.
Table A: Allottee Details and Share Allotment
| Sr. No | Name of the Allottee(s) | Category | Number of Warrants Allotted in total | No of warrants converted prior to this conversion | No. of Equity Shares Allotted against Conversion of Warrants | Issue Price per Equity Share (In INR) | Balance 75% of the issue price received. (In INR) | Balance Outstanding Warrants for conversion |
|---|---|---|---|---|---|---|---|---|
| 1 | United Friends Ventures LLP | Promoters Group | 45,75,000 | 14,56,208 | 3,20,286 | 93.25 | 2,24,00,002.13 | 27,98,506 |
| 2 | Moorari Infracom Ventures LLP | Non- Promoter | 1,75,000 | 67,000 | 1,08,000 | 93.25 | 75,53,250.00 | - |
| 3 | Darshika Nishat Brahmbhatt | Non- Promoter | 75,000 | - | 75,000 | 93.25 | 52,45,312.50 | - |
| 4 | Sameer Vechukarottu Joseph | Non- Promoter | 50,000 | - | 50,000 | 93.25 | 1,84,28,531.25 | - |
| 5 | Farzana Sameer Joseph | Non- Promoter | 50,000 | - | 50,000 | 93.25 | 1,84,28,531.25 | - |
| Total | Total | Total | 49,25,000 | 15,23,208 | 6,03,286 | 93.25 | 4,21,92,314.63 | 27,98,506 |
Following the allotment, the company's paid-up equity share capital increased from ₹ 12,32,51,680 to ₹ 12,92,84,540, representing an increase of 1,29,28,454 shares.
Currently, 55,21,546 warrants remain outstanding, with holders having 18 months from April 17, 2025, to convert them into equity shares. The company plans to seek listing and trading approval for the newly issued shares in due course.
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