Urban Enviro Waste Management Limited Revises Preferential Issue of Warrants
Urban Enviro Waste Management Limited announced a revision to its preferential issue of fully convertible warrants, approved by the Management Committee on March 22, 2026. The revision follows a preliminary approval by the Board of Directors on March 11, 2026.The revised issue size is now up to ₹48,00,00,000 (Rupees Forty-Eight Crores Only), a decrease from the previously approved up to ₹50,00,00,000 (Rupees Fifty Crore Only). Warrants will be issued at an issue price of ₹150 (Rupees One Hundred Fifty Only) per warrant, including a premium of ₹140, and are convertible into fully paid-up equity shares with a face value of ₹10 each.
The Management Committee approved the allocation of warrants to Mr. Suresh Sharma (Promoter) and Mr. Vikas Sharma (Non-Promoter). The table below outlines the revised allocation and consideration:
| Sr. No | Name of the Proposed Allottee | Type of proposed allottees | Category of proposed allottees | Maximum number of warrants to be offered | Consideration (in Rs.) |
|---|---|---|---|---|---|
| 1 | Mr. Suresh Sharma | Individual | Promoter | Upto 27,55,200 | Upto Rs. 41,32,80,000 |
| 2 | Mr. Vikas Sharma | Individual | Non-promoter | Upto 4,44,800 | Upto Rs. 6,67,20,000 |
| Total | Total | Total | Total | Upto 32,00,000 | Upto Rs. 48,00,00,000 |
The Relevant Date for determining the floor price, as per the SEBI ICDR Regulations, 2018, is March 23, 2026. The issue price of ₹150 per warrant complies with the applicable provisions of the SEBI ICDR Regulations.
The Postal Ballot Notice to shareholders will be modified to reflect these revisions. All other terms and conditions of the preferential issue remain unchanged.
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