Religare Enterprises Limited has successfully completed the allotment of 35,00,000 equity shares following the conversion of warrants. This action, approved by the IB&SA Committee on August 6, 2026, involved issuing shares at a premium to Puran Associates Private Limited. The conversion has resulted in an increase of the company’s paid-up equity share capital to INR 3,44,73,37,420.
Religare Enterprises Completes Warrant Conversion
Religare Enterprises Limited has announced the allotment of 35,00,000 equity shares of face value Rs. 10/- each, issued at a premium of Rs. 225.00/- per share. This significant allotment, which occurred on August 6, 2026, was made to Puran Associates Private Limited, a promoter group entity, pursuant to the conversion of warrants. The decision was formally approved by the Investment, Borrowing & Share Allotment (IB&SA) Committee of the Board of Directors.
Financial Impact of Allotment
The conversion of warrants was executed following the receipt of funds amounting to INR 61,68,75,000, representing 75% of the total consideration for the converted warrants. This amount, combined with the initial 25% paid at the time of warrant allotment on September 12, 2025, constitutes 100% of the total consideration. As a result of this allotment, Religare Enterprises’ issued, subscribed, and paid-up Equity Share capital has increased from INR 3,41,23,37,420 to INR 3,44,73,37,420. This brings the total number of fully paid-up Equity Shares to 34,47,33,742.
Shareholder Implications
The newly issued equity shares will rank pari passu with the existing equity shares of the Company in all respects. However, these shares will be subject to a lock-in period as prescribed under the SEBI ICDR Regulations and applicable law. The company has also reported that 39,82,269 warrants remain residual after this conversion.
Source: BSE
