Black Box Limited announced the allotment of 6,46,674 Equity Shares on February 28, 2026, following the full exercise and conversion of warrants by three Non-Promoter allottees. The shares were allotted at an issue price of Rs. 417/- each (face value Rs. 2/- plus premium of Rs. 415/-), upon receipt of the balance 75% consideration. This allotment increases the company’s paid-up capital to Rs. 34,22,74,792/-.
Warrant Conversion and Share Allotment Details
Black Box Limited has completed the allotment of 6,46,674 Equity Shares, which arose from the conversion of an equivalent number of Convertible Warrants. This action follows the warrant holders paying the remaining 75% of the issue price.
The original warrants were issued on September 27, 2024, at an issue price of Rs. 417/- per warrant (comprising a face value of Rs. 2/- and a premium of Rs. 415/-).
Summary of Conversion Transactions
The Board approved this allotment via a circular resolution dated February 28, 2026. The following table summarizes the warrants converted and the balance consideration received:
- Total Warrants Converted: 6,46,674
- Total Balance Amount Received: Rs. 20,22,47,293.50
The three Non-Promoter allottees involved in this conversion were:
- Excello Fin Lea Limited: Converted 5,99,520 warrants, receiving 5,99,520 shares.
- Ushma Mehta: Converted 31,975 warrants.
- Ajay Patadia: Converted 15,179 warrants.
Impact on Capital Structure
The issuance results in an increase in the issued, subscribed, and paid-up capital of the Company. The capital structure has changed as follows:
- Pre-Allotment Capital: 17,04,90,722 Equity Shares, aggregating to Rs. 34,09,81,444/-.
- Post-Allotment Capital: 17,11,37,396 Equity Shares, aggregating to Rs. 34,22,74,792/-.
The newly allotted shares will rank pari passu with the existing Equity Shares of the Company.
Outstanding Warrants
Following this exercise, the total number of warrants outstanding for future conversion as on the date of the announcement stands at 63,57,859.
Shareholding Changes Post-Allotment
The disclosure highlights the change in shareholding percentage for the three converting entities:
- Excello Fin Lea Limited: Increased its holding from 0.35% (5,99,520 shares) to a new holding of 0.35% (Note: The pre-issue shareholding data for this entity appears to be incomplete or relative, but the post-issue number is 5,99,520 shares).
- Ushma Mehta: Increased holding from 0.42% to 0.44% (holding 7,50,587 shares).
- Ajay Patadia: Increased holding from 0.00% to 0.01% (holding 17,679 shares).
Source: BSE
