Renol Polychem Limited Allots 6,86,000 Equity Shares Following Warrant Conversion
Renol Polychem Limited announced the allotment of 6,86,000 equity shares with a face value of Rs. 10 each at a price of Rs. 134 per share, including a premium of Rs. 124 per share, following the exercise of warrants. The allotment occurred on March 30, 2026, subsequent to a Board meeting held earlier in the day.The company received Rs. 6,89,43,000 from the warrant holders upon receiving the remaining exercise price of Rs. 100.50 per warrant, representing 75% of the warrant exercise price. These newly allotted shares rank pari passu with existing equity shares, entitling them to dividends and other shareholder rights.
As a result of this allotment, the company's paid-up equity share capital has increased from Rs. 11,39,84,620 to Rs. 12,08,44,620.
Warrant Conversion Details
The following table details the warrant conversion:
| Sr. No | Name of warrant holder(s)/allottee(s) | Category | No of Warrants Allotted | No of Warrants already converted | No. of Warrants applied for conversion | No. of equity shares allotted, upon conversion / exchange of Warrants | Warrants pending after conversion |
|---|---|---|---|---|---|---|---|
| 1 | Naitik Bhaveshbhai Harsoda | Promoter | 20,00,000 | 0 | 86,000 | 86,000 | 19,14,000 |
| 2 | Hetalben Bhaveshbhai Harsoda | Promoter Group | 11,57,200 | 0 | 6,00,000 | 6,00,000 | 5,57,200 |
| Total | 31,57,200 | 0 | 6,86,000 | 6,86,000 | 24,71,200 |
Additional Disclosures
Details related to the securities issuance, including investor names and post-allotment capital structure, are available in Annexure II. As of March 30, 2026, 24,71,200 warrants remain pending for conversion. The Board of Directors’ meeting commenced at 1:00 p.m. and concluded at 1:35 p.m.
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