Magson Retail And Distribution Limited Approves Equity Share Allotment Following Warrant Conversion; Updates Capital Structure
Magson Retail and Distribution Limited announced the approval of a significant equity share allotment, resulting from the conversion of Convertible Equity Warrants. The Board meeting held on July 15, 2026, also confirmed the reclassification of a shareholder from the Promoter Group category to Public status.The company's Board approved the allotment of 4,28,950 Fully Paid-Up Equity Shares, which were issued against the conversion of Convertible Equity Warrants. This action is part of the ongoing utilization of the initial allocation of one crore six lakh warrants. The issuance carries a face value of ₹10/- per share and an issue price of ₹93.25/-.
The allotment involved a non-promoter warrant holder, Mr. Tarangkumar Manubhai Savaliya, who converted 4,28,950 warrants out of a total of 10,56,500 allotted in the series. The issuance confirmed that the balance 75% of the issue price for these shares was received.
Key details concerning the allotment are summarized below:
| Allottee Name | Category | Warrants Converted | Equity Shares Allotted | Issue Price per Share | Balance Payment Received (75%) |
|---|---|---|---|---|---|
| Tarangkumar Manubhai Savaliya | Non-Promoter | 4,28,950 | 4,28,950 | ₹93.25 | ₹2,99,99,690.63 |
The company also noted that out of the total one crore six lakh warrants initially allotted, four million sixty-five thousand two hundred fifty-nine six warrants remain outstanding for conversion. Warrant holders are entitled to convert their remaining warrants into an equal number of Equity Shares within 18 months from the original allotment date of April 17, 2025, by paying the remaining 75% amount.
Capital Structure Update
The allotment results in a material increase in the company's Paid-Up Equity Share Capital. Prior to this transaction, the existing paid-up equity share capital stood at 13,36,84,54 shares with a corresponding value of ₹13,36,84,540.Post-allotment, the company's Paid-Up Equity Share Capital increased to 1,37,97,404 shares, amounting to ₹13,79,74,040. The newly issued equity shares are granted pari-passu status with existing shares of the Company.
Promoter Reclassification Approved
During the Board meeting on July 15, 2026, the Directors also considered and approved a request received from Mr. Maheshbhai Naranbhai Patel to reclassify his shareholding status from 'Promoter Group' to 'Public' category.Mr. Patel holds 850 equity shares, representing 0.01% of the total voting rights in the Company. As this holding is below 1%, no shareholder approval was required for the reclassification by the Board.
MAGSON Stock Price Movement
As of 12:38 PM, shares of Magson Retail And Distribution Limited are trading steady at ₹181.00 in the live market. The stock remains within its established price band of ₹171.95 to ₹190.05, with 4,000 units traded thus far today.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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