Tirupati Forge Limited Approves Capital Hike, Issues 37 Lakh Convertible Warrants on Preferential Basis
Tirupati Forge Limited announced several key corporate decisions following a board meeting held on July 2, 2026. The company approved an increase in its authorized share capital and decided to issue up to 37 lakh convertible equity warrants through a preferential allotment, subject to shareholder approval.The Board of Directors considered and approved the increase in the Company's Authorized Capital from existing Rs 26,50,00,000 (Rupees Twenty-Six Crores Fifty Lakhs Only) to Rs 27,50,00,000 (Rupees Twenty-Seven Crores Fifty Lakhs Only). This increase is proposed to facilitate future fund-raising requirements. The authorized share capital will be divided into 13,75,00,000 equity shares of Rs 2 each, following a consequential amendment to Clause V of the Memorandum of Association.
The company also decided to issue up to 37,00,000 Convertible Equity Warrants on a preferential basis to promoters and the promoter group. The warrants were set at an issue price of Rs 58.00 per warrant. These warrants are convertible into one equity share of Face Value Rs 2 each, carrying a premium of Rs 56 per warrant.
The total value aggregating for these warrants is Rs 21,46,00,000 (Rupees Twenty-One Crores Forty-Six Lakhs Only). The allotment was designated for three investors in the Promoter and Promoter Group categories.
| Investor Name | Category | No. of Warrants Allotment |
|---|---|---|
| Hiteshkumar Godhanbhai Thummar | Promoter | 9,25,000 |
| Bhargvi Manojbhai Thummar | Promoter | 13,87,500 |
| Chetna Mukeshbhai Thumar | Promoter Group | 13,87,500 |
Regarding the warrant instrument terms, it was noted that an amount equivalent to 25% of the Warrant Issue Price must be paid at the time of allotment. The remaining balance of 75% is payable by the warrant holder(s) upon exercising the warrants. The tenure of the warrants is set not to exceed 18 months from the date of allotment.
The company further decided to call an Extra Ordinary General Meeting (EGM) on Friday, July 31, 2026, and approved the Notice for this meeting. Mr. Piyush Jethva was appointed as the Scrutinizer for the ensuing EGM, and National Securities Depository Limited (NSDL) was appointed to provide the E-voting facility.
In a separate correction related to previous communications, Tirupati Forge Limited corrected an earlier intimation concerning its convertible warrants. The correct issue price of Rs 58.00 per warrant was confirmed, superseding a prior mention that erroneously stated the issue price as Rs 53.00.
TIRUPATIFL Stock Price Movement
Shares of Tirupati Forge Limited are edging higher to ₹70.08 as of 10:54 AM today, gaining 4.88% in live trading at the company’s current operational level. The equity registers a total traded volume of 920,047 shares while currently staying within its intraday range defined by the day high of ₹71.24 and low of ₹67.5.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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