Nitco Limited Allots 6,504,065 Equity Shares to Promoter Upon Warrant Conversion
Nitco Limited has announced the allotment of equity shares resulting from the conversion of convertible warrants by its promoter, Mr. Vivek Prannath Talwar. The Board of Directors approved the allotment of 6,504,065 equity shares to the promoter following the exercise and conversion of the corresponding number of warrants.The equity shares have a face value of Rs. 10/- each and were allotted at a premium of Rs. 82.25/- per share. This transaction occurred as part of the overall utilization of convertible warrants held by the company's promoter.
Details regarding this allotment, which was completed on July 23, 2026, are summarized below:
| Key Details of Equity Allotment | Status/Figures |
|---|---|
| Type of Securities Allotted | Fully paid equity shares upon conversion of share warrants |
| Total Number of Shares Allotted | 65,04,065 |
| Issue Price per Share | Rs. 92.25/- |
| Premium per Share | Rs. 82.25/- |
| Promoter Allottee | Mr. Vivek Prannath Talwar |
This allotment represents the exercise and conversion of warrants from a balance pool of 1,20,10,000 shares. The transaction was finalized upon receipt of the remaining 75% subscription amount from the allottee.
Warrant Allotment Context and Conversion Timeline
The company had previously issued and allotted 2,34,10,000 convertible warrants to a promoter on January 27, 2025, through a preferential allotment. The initial issue price for these warrants was set at Rs. 92.25 per warrant, with an initial subscription payment equivalent to 25% of the issue price received upon allotment.Subsequently, 1,14,00,000 warrants were converted and allotted into an equivalent number of equity shares on March 23, 2026, after receiving the balance 75% of the issue price.
Current Allotment Status
The details concerning the current allotment to Mr. Vivek Prannath Talwar are as follows:| Particulars | Details |
|---|---|
| Name of Allottee | Mr. Vivek Prannath Talwar (Promoter, Chairman and Managing Director) |
| Number of Warrants Converted | 1,20,10,000 |
| Number of Equity Shares Allotted | 65,04,065 |
| Amount Received (75% of issue price) | Rs. 45,00,00,000 |
| Warrants Pending for Conversion | 55,05,935 |
The Securities and Exchange Board of India mandates that the allottee must convert any remaining warrants by July 26, 2026, which is within 18 months from the date of original warrant allotment.
Impact on Shareholding
The allotment significantly impacted the promoter's shareholding structure. Prior to this issuance, Mr. Vivek Prannath Talwar held 2,12,23,669 equity shares, representing 8.82% of the shareholding. Post-issue, his holding increased to 2,77,27,734 equity shares, translating to 11.53% of the shareholding.The pre and post-shareholding figures for the promoter are provided in the table below:
| Promoter Shareholding Status | Pre-Issue Shares (Number & %) | Post-Issue Shares (Number & %) |
|---|---|---|
| Mr. Vivek Prannath Talwar | 2,12,23,669 (8.82%) | 2,77,27,734 (11.53%) |
NITCO Stock Price Movement
Nitco Limited shares today slipped by 1.67% to settle at ₹103.2, following the close of trading. The stock saw a traded volume of 438,531 shares during the session.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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