Nitco Limited Allots Equity Shares Following Warrants Conversion
Nitco Limited announced the allotment of 1,14,00,000 (One Crore Fourteen Lakhs) equity shares on March 23, 2026, following the conversion of an equal number of convertible warrants. The allotment was approved by the Board of Directors and is subject to shareholder approval.The equity shares have a face value of Rs. 10 each and a premium of Rs. 82.25 per share, resulting in an issue price of Rs. 92.25 per share. The shares were allotted to Mr. Vivek Prannath Talwar, a promoter of the company, who had previously received 25% of the issue price per warrant as an initial subscription amount. The remaining 75% of the warrant issue price was received upon conversion.
The company had issued 2,34,10,000 convertible warrants to Mr. Talwar on January 27, 2025, following shareholder approval and prior approvals from the BSE Limited and the National Stock Exchange of India Limited. Allottees can convert the remaining 1,20,10,000 (One Crore Twenty Lakhs Ten Thousand) warrants by July 26, 2026.
Shareholding Details
The allotment has impacted Mr. Talwar's shareholding in the company.
| Sr. No. | Name of Allottees | Pre-Issue Shareholding (No. of Equity Shares) | Pre-Issue Shareholding (%) | Post-Issue Shareholding (No. of Equity Shares) | Post-Issue Shareholding (%) |
|---|---|---|---|---|---|
| 1. | Mr. Vivek Prannath Talwar (Promoter, Chairman and Managing Director) | 98,23,669 | 4.29 | 2,12,23,669 | 8.82 |
The Board of Directors also approved material related party transactions with Authum Investments & Infrastructure Limited for fiscal year 2026-27, pending shareholder approval. A postal ballot will be conducted via remote e-voting facilitated by National Securities Depository Limited (NSDL), with a cut-off date of Friday, March 20, 2026. The Board meeting commenced at 5:30 P.M. (IST) and concluded at 6:30 P.M. (IST).
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