Balu Forge Industries approved the allotment of 10,00,000 Equity Shares on February 9, 2026, resulting from the exercise of Convertible Warrants. The shares were issued to Ebisu Global Opportunities Fund Limited at an issue price of ₹360/- each, including a premium of ₹350/- per share. This conversion marks the finalization of the capital raise mechanism initiated earlier, reinforcing the company’s capital structure.
Approval of Equity Share Allotment
The Board of Directors of Balu Forge Industries Limited convened on Monday, February 09, 2026, to approve the allotment of securities following the exercise of warrants. This action was taken in compliance with applicable disclosure requirements.
Details of Conversion and Allotment
The company approved the allotment of 10,00,000 (Ten Lakhs) Equity Shares, each having a face value of Rs. 10/-. The shares were allotted at an issue price of Rs. 360/- per share. This price includes a significant premium of Rs. 350/- per share, resulting in the full payment being realized upon the exercise of the conversion option.
Investor and Transaction Summary
The entire allotment pertains to the conversion of Convertible Warrants previously issued on a preferential basis. The sole allottee for this tranche is Ebisu Global Opportunities Fund Limited, categorized as a Non-Promoter Group investor. The total consideration received for this conversion amounted to Rs. 27,00,00,000/-. It is noted that this amount represents the balance 75% of the total consideration due, with the initial 25% having been received upon the original allotment of the warrants.
This transaction completes the full capitalization related to the exercise of 10,00,000 convertible warrants, resulting in the issuance of 10,00,000 fully paid-up equity shares.
Source: BSE
