Tirupati Forge Limited Allots 25,60,000 Equity Shares Upon Conversion of Warrants
Tirupati Forge Limited announced that its Board of Directors, in a meeting held on April 27, 2026, approved the allotment of 25,60,000 equity shares to the Promoter on a preferential basis. The allotment occurs through the conversion of Convertible Warrants.Under the approved transaction, the Company allotted 25,60,000 equity shares, each having a face value of Rs.2/-. These shares were allotted at a premium of Rs.30/- per equity share, utilizing 25,60,000 Convertible Warrants. These warrants are part of the total 1,17,60,000 Convertible Warrants that were originally issued and allotted on January 16, 2025.
The transaction proceeds were supported by substantial consideration from the allottees. Previously, when the initial 1,17,60,000 warrants were allotted, Rs.9,40,80,000/- (representing 25% of the issue price) was received as the initial subscription amount.
For the recent conversion, the consideration was deposited in two phases. First, six allottees belonging to the Promoter and Non-Promoter Group deposited the balance 75% of the consideration amount, aggregating to Rs.20,04,00,000/-. Separately, two additional allottees belonging to the Promoter and Non-Promoter Group also converted warrants, depositing 75% of the consideration amount, amounting to Rs.6,14,40,000/-. These conversions resulted in the allotment of 25,60,000 equity shares.
The newly allotted equity shares rank pari passu with the existing equity shares of the company in all respects, including dividend payment and voting rights.
Allotment Details
The conversion of warrants was executed by several allottees, resulting in the allotment of 25,60,000 equity shares. The conversion and allocation details across various groups include:| Name of Allottees | Nos. Warrants Allotted | Nos. of Warrants already converted into Equity | Nos. of Warrants applied for conversion | No. of equity shares allotted, upon conversion/ exchange of Warrants | Warrants pending for conversion |
|---|---|---|---|---|---|
| Promoter and Promoter Group | Promoter and Promoter Group | Promoter and Promoter Group | Promoter and Promoter Group | Promoter and Promoter Group | Promoter and Promoter Group |
| Chetna Mukeshbhai Thumar | 34,50,000 | 12,50,000 | 22,00,000 | 22,00,000 | NIL |
| Bhargavi Manojbhai Thummar | 20,00,000 | 20,00,000 | 0 | 0 | NIL |
| Hiteshkumar Gordhanbhai Thummar | 10,00,000 | 10,00,000 | 0 | 0 | NIL |
| Non-Promoter/Public | Non-Promoter/Public | Non-Promoter/Public | Non-Promoter/Public | Non-Promoter/Public | Non-Promoter/Public |
| Devansh Trademart LLP | 30,00,000 | 30,00,000 | 0 | 0 | NIL |
| Ekta Agarwal | 10,00,000 | 10,00,000 | 0 | 0 | NIL |
| Mayank Gupta | 4,50,000 | 0 | 0 | 0 | 4,50,000 |
| Lata Dhiraj Shah | 3,60,000 | 0 | 3,60,000 | 3,60,000 | NIL |
| Adiraju Rajendra Prasad | 2,00,000 | 0 | 0 | 0 | 2,00,000 |
| Dea Capital Management Private Limited | 1,00,000 | 1,00,000 | 0 | 0 | NIL |
| Jayantilal Gada HUF | 1,00,000 | 0 | 0 | 0 | 1,00,000 |
| Piyush Gala | 1,00,000 | 0 | 0 | 0 | 1,00,000 |
| Total | 1,17,60,000 | 83,50,000 | 25,60,000 | 25,60,000 | 8,50,000 |
TIRUPATIFL Stock Price Movement
Today, Tirupati Forge Limited shares shed 2.04% to settle at ₹44.53. The equity concluded the day with a total traded volume of 334,362 shares.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.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.