Nitco Limited Allots 55 Lakh Equity Shares to Promoter Following Warrant Conversion
Nitco Limited has finalized the allotment of a significant number of equity shares to its promoter, Mr. Vivek Prannath Talwar, subsequent to the successful exercise and conversion of convertible warrants. The allotment process saw the issuance of 55,05,935 equity shares to Mr. Talwar.The company had initially issued 2,34,10,000 convertible warrants to a promoter on January 27, 2025, through a preferential allotment. The issue price for these warrants was set at Rs. 92.25 per warrant, with an initial subscription payment of 25% being received upon the warrants' allotment.
A portion of these warrants were subsequently converted and allotted into equity shares on March 23, 2026, and July 23, 2026, after the company received the balance 75% of the issue price from warrant holders.
The final allotment details concern the conversion of remaining convertible warrants to Mr. Vivek Prannath Talwar. The Board of Directors approved the allotment of 55,05,935 equity shares to the promoter upon receipt of the remaining subscription amount (75% of the issue price). These shares have a face value of Rs. 10/- each and were issued at a premium of Rs. 82.25/- per share.
The specific details regarding Mr. Vivek Prannath Talwar's transaction are as follows:
| Name of Allottee | No. of Warrants Applied for Conversion | No. of Equity Shares Allotted | Amount Received (75% of Issue Price) | Warrants Pending for Conversion |
|---|---|---|---|---|
| Mr. Vivek Prannath Talwar (Promoter, Chairman and Managing Director) | 55,05,935 | 55,05,935 | Rs. 38,09,41,878 | 0 |
The allotment resulted in a notable change in the promoter's shareholding status. Mr. Vivek Prannath Talwar's pre-issue shareholding was reported at 2,77,27,734 equity shares, representing 11.53% of the shareholding. Following this latest allotment, his post-issue shareholding increased to 3,32,33,669 equity shares, accounting for 13.15% of the company's total shareholding.
NITCO Stock Price Movement
Nitco Limited's stock rallied strongly on Friday, climbing 1.69% from the previous close to settle at ₹104.11. The equity traded within a tight range during the session, with the stock touching a day high of ₹104.99 and dipping as low as ₹99.82.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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