Ramkrishna Forgings’ board has approved the issuance of up to 34,00,000 warrants convertible into equity shares to promoter, Mr. Chaitanya Jalan, on a preferential basis. The warrant price is set at ₹588 per warrant, aggregating to ₹199.92 Crores. This decision is subject to shareholder approval at the upcoming Extra Ordinary General Meeting. The relevant date as per regulations is November 12, 2025.
Warrant Issuance to Promoter
The Board of Directors of Ramkrishna Forgings has approved the issuance of up to 34,00,000 warrants. These warrants are convertible into an equivalent number of equity shares.
The warrants will be issued to Mr. Chaitanya Jalan, a promoter of the company, on a preferential basis. The face value of each equity share is ₹2.
Pricing and Total Value
The price per warrant has been set at ₹588. The total value of the issuance aggregates to ₹199.92 Crores.
Regulatory and Shareholder Approval
The issuance is subject to the approval of the shareholders at an Extra Ordinary General Meeting. All regulatory and governmental approvals must also be secured.
Monitoring Agency
India Ratings and Research Private Limited, a SEBI-registered Credit Rating Agency, has been appointed as the Monitoring Agency. They will oversee the utilization of proceeds from this preferential issue of warrants.
EGM Convening
An Extra Ordinary General Meeting of the Shareholders is scheduled for December 12, 2025, at 11:30 AM (IST). The meeting will be held via video conferencing to seek approval for the preferential issue.
Subscription Outcome
Post issuance Mr. Chaitanya Jalan’s holding will increase to 64,47,900 shares or 3.48% assuming full conversion of warrants. Prior to the issue his shareholding was 30,47,900 or 1.68% of the company.
Warrant Terms
Each warrant is convertible into one equity share. The rights attached to the warrants can be exercised any time within 18 months from the date of allotment. A minimum of 25% of the warrant exercise price must be paid at the time of subscription.
Source: BSE
