Diana Tea Company Limited has disclosed the acquisition of 40,74,075 Equity Convertible Warrants by its promoters and persons acting in concert (PACs). Each warrant was issued at a price of ₹27, including a premium of ₹22, and grants the holder the right to subscribe to one fully paid-up equity share of face value ₹5. This preferential allotment significantly impacts the company’s capital structure and future shareholding.
Disclosure of Substantial Acquisition
Diana Tea Company Limited, through its promoters and Persons Acting in Concert (PACs), has submitted a disclosure regarding the acquisition of 40,74,075 Equity Convertible Warrants. This acquisition was made through a preferential allotment by the Target Company, Diana Tea Company Limited.
Key Details of the Transaction
- Acquirers: Mr. Sandeep Singhania, Mrs. Sarita Singhania, Mr. Devang Singhania, Ms. Vani Singhania, and Diana Capital Limited, along with PACs.
- Instrument Acquired: 40,74,075 Equity Convertible Warrants.
- Issue Price: Each warrant was issued at ₹27, which includes a premium of ₹22.
- Conversion Right: Each warrant entitles the holder to subscribe to one fully paid-up equity share of face value ₹5.
- Date of Allotment: The convertible warrants were allotted on November 4, 2026.
Impact on Shareholding
Prior to this acquisition, the total shareholding of the acquirers and PACs was 61.34%. Post-acquisition, assuming the full conversion of these warrants, the diluted shareholding is projected to increase to 69.60%. The company’s equity share capital before the acquisition was ₹7,49,55,000 divided into 1,49,91,000 equity shares. After the acquisition and upon potential full conversion, the total diluted share capital will be ₹9,53,25,375, representing 1,90,65,075 equity shares of ₹5 each.
Source: BSE
