Borosil Renewables Limited has announced the allotment of 53,38,840 equity shares upon conversion of warrants previously issued on a preferential basis. This conversion has increased the company’s paid-up equity share capital to ₹14,71,83,709. The funds raised through this exercise will primarily be utilized to finance the company’s ongoing solar glass expansion project, which is proceeding as per schedule.
Equity Share Allotment & Capital Increase
Borosil Renewables Limited has officially completed the allotment of 53,38,840 equity shares. These shares were issued upon the conversion of warrants that were previously allotted on a preferential basis to non-promoter category individuals. The allotment, approved by the Management Committee of the Board of Directors on August 14, 2026, has resulted in a fully paid-up equity share capital increase for the company. The new equity shares rank pari-passu with the existing shares of the Company. The total paid-up equity share capital now stands at ₹14,71,83,709, divided into 14,71,83,709 equity shares of Re. 1/- each.
Warrant Conversion Details
This conversion is a culmination of warrants initially allotted on February 14, 2025, for 78,80,436 warrants. Each warrant was convertible into one fully paid-up equity share of Re. 1/- each at an issue price of Rs. 530/- per warrant. Warrant holders had initially paid 25% of the issue price (Rs. 132.50/-) as a subscription price. The remaining 75% (Rs. 397.50/- per warrant) was payable upon application for conversion.
Funds for Solar Expansion
The capital raised through this preferential issue will be instrumental in financing Borosil Renewables’ strategic solar glass expansion project. The company confirmed that this expansion project is progressing according to its planned schedule, indicating continued investment in its core business growth. The detailed list of warrant holders who opted for conversion and the number of equity shares allotted to each is provided in the annexure.
Source: BSE
