Tirupati Forge Limited Allots 8,50,000 Equity Shares Following Convertible Warrant Conversion

Tirupati Forge Limited Allots 8,50,000 Equity Shares Following Convertible Warrant Conversion​

Tirupati Forge Limited has approved the allotment of 8,50,000 equity shares following the conversion of convertible warrants into fully paid-up stock. The decision was made during a Board meeting held on July 10, 2026.

The company allotted these new equity shares to Non-Promoter individuals under preferential terms. These shares represent the conversion of an equal number of convertible warrants (8,50,000) out of the total pool of 1,17,60,000 convertible warrants that were initially issued on January 16, 2025.

The equity shares have a face value of Rs. 2/- and are being issued at a premium price of Rs. 30/-, resulting in the allotment price being set at Rs. 32/- per share.

Completion of Warrant Conversion​

This latest transaction marks a significant milestone for Tirupati Forge Limited as all outstanding warrants have now been fully converted into equity shares within the stipulated period, which was 18 months from the original warrant allotment date. The company previously allotted a total of 1,17,60,000 convertible warrants on January 16, 2025, at an issue price of Rs. 32/- per warrant to 11 allottees on a preferential basis.

Prior to the current conversion, an initial subscription amount totaling Rs. 9,40,80,000/-, which was 25% of the issue price, had been received from the respective bank accounts of the warrant allottees.

Financial Impact and Capital Restructuring​

The completion of this allotment resulted in an increase in the company's paid-up equity capital.

The paid up equity capital increased from Rs. 25,83,80,000/-, which comprised 12,91,90,000 equity shares of Rs. 2/- each, to Rs. 26,00,80,000/- consisting of 13,00,40,000 equity shares of Rs. 2/- each.

The newly allotted equity shares will rank pari passu with the existing equity shares in all respects, including dividend payment and voting rights.

Details of Equity Allotment​

The conversion process involved multiple non-promoter and public allottees who have now been allocated new shares. The allotment details are as follows:


The four allottees involved in this tranche hold a total of 8,50,000 warrants.

TIRUPATIFL Stock Price Movement​

Today, Tirupati Forge Limited shares rallied on a positive day, closing up 1.36% to settle at ₹68.1. The stock saw moderate trading activity, with 490,442 shares recorded during the session.