Aanchal Ispat Limited has approved the allotment of 7,26,829 fully convertible warrants to promoter Mr. Mukesh Goel on a preferential basis. Each warrant is convertible into one equity share at an issue price of ₹82 per warrant, aggregating to ₹5,95,99,978. A total of ₹1,49,00,000 has been received as 25% upfront payment.
Aanchal Ispat Limited Allots Convertible Warrants to Promoter
In a significant corporate action, Aanchal Ispat Limited has announced the allotment of 7,26,829 fully convertible warrants to Mr. Mukesh Goel, who belongs to the Promoter category. This allotment was approved during the Board of Directors’ meeting held on October 30, 2026, and is being conducted on a preferential basis for cash.
Key Terms of the Warrant Allotment
Each of these warrants carries the potential to convert into one fully paid-up equity share of the Company, having a face value of ₹10. The issue price for each warrant has been set at ₹82, which includes a face value of ₹10 and a premium of ₹72.
The total aggregate value for this allotment amounts to ₹5,95,99,978 (Rupees Five Crore Ninety-Five Lakh Ninety-Nine Thousand Nine Hundred and Seventy-Eight only). In line with the terms, Aanchal Ispat Limited has received an upfront payment of ₹1,49,00,000 (Rupees One Crore Forty-Nine Lakhs only) from the allottee, representing 25% of the issue price (₹20.50 per warrant).
Conversion and Exercise Details
The remaining 75% of the issue price, amounting to ₹61.50 per warrant, will be payable by the warrant holder at the time of exercising the option to convert the warrants into fully paid-up equity shares. Each warrant can be converted into one equity share of face value ₹10 within a period of 18 months from the date of allotment. The allotment is in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Members of the Company had previously approved the issuance of up to 10,55,000 fully convertible warrants at an Extra-Ordinary General Meeting on July 23, 2026. The Company also obtained in-principle approval from BSE Limited for the proposed preferential allotment of 10,55,000 warrants.
It is noted that Mr. Mukesh Goel, being both the allottee and an interested Director, did not participate in the discussions or voting on this agenda item. The allotment of these warrants does not result in any immediate change in the equity shareholding of the allottee; any change will occur upon the conversion of the warrants into equity shares.
Source: BSE
