Tirupati Forge Limited Board Approves Authorized Capital Increase and Preferential Issue of Convertible Warrants
Tirupati Forge Limited, during a board meeting held on July 2, 2026, announced significant corporate actions aimed at facilitating future fund-raising requirements. The company approved an increase in its authorized share capital and decided to issue up to 37,00,000 Convertible Equity Warrants through a preferential allotment to the Promoter/Promoter Group.The board meeting reviewed and approved a material increase in the authorized capital of the Company, which is subject to shareholder approval. The proposed changes pertain to Clause V of the Memorandum of Association.
Existingly, the company’s authorized share capital stood at Rs. 26,50,00,000, comprising 13,25,00,000 equity shares, each valued at Rs. 2/-. The proposed increase sets the new authorized capital to Rs. 27,50,00,000, which will be divided into 13,75,00,000 equity shares of Rs. 2/- each.
Key details regarding the approved capital structure are as follows:
| Parameter | Existing Details | Proposed New Details |
|---|---|---|
| Authorized Share Capital | Rs. 26,50,00,000 | Rs. 27,50,00,000 |
| Equity Shares (Authorized) | 13,25,00,000 shares | 13,75,00,000 shares |
Preferential Issuance of Convertible Warrants
The company also decided to issue up to 37,00,000 Convertible Equity Warrants on a preferential basis, determined under the terms applicable to investors who are Promoters or part of the Promoter Group. The warrants were set for issuance at an issue price of Rs. 53.00/- each. This issuance aggregates to a total amount of Rs. 19,61,00,000 to the participating investors.The distribution details for the Warrants are as follows:
| Investor Name | Category | No. of Warrants Allotted |
|---|---|---|
| Hiteshkumar Godhanbhai Thummar | Promoter | 9,25,000 |
| Bhargvi Manojbhai Thummar | Promoter | 13,87,500 |
| Chetna Mukeshbhai Thumar | Promoter Group | 13,87,500 |
| Total | 37,00,000 |
The terms of the warrants stipulate that each warrant is convertible into one Equity Share of Face Value of Rs. 2/- at a Premium of Rs. 51/-. It was noted that the Warrants are payable only upon payment of 25% of the issue price at the time of allotment, with the remaining 75% due upon exercise. The warrants have a tenure not exceeding 18 months from the date of allotment.
Corporate Governance and Next Steps
The board meeting concluded by deciding to call an Extraordinary General Meeting (EGM) on Friday, July 31, 2026, to seek necessary approvals related to these transactions. Furthermore, Mr. Piyush Jethva was appointed as the Scrutinizer for the ensuing EGM, and National Securities Depository Limited (NSDL) was appointed to provide E-voting facility for the meeting.TIRUPATIFL Stock Price Movement
Shares of Tirupati Forge Limited soared today, gaining 7.24% and settling at ₹69.52 in post-market trading. The stock hit its 52-week high during the session, as it traded within a range stretching from ₹64.61 to ₹72.29 amid nearly 4.92 million shares transacted.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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