BLACK BOX Limited announced the allotment of 12,48,247 Equity Shares on March 25, 2026, pursuant to the exercise and conversion of an equal number of Convertible Warrants. The conversion price was Rs. 417 per share (Rs. 2 face value + Rs. 415 premium). This action successfully concludes the preferential issue, increasing the total issued share capital and reflecting the receipt of the remaining 75% subscription amount from the allottees.
Completion of Preferential Issue and Warrant Conversion
BLACK BOX Limited has confirmed the successful allotment of 12,48,247 Equity Shares, face value of Rs. 2/- each, following the conversion of an equivalent number of outstanding Convertible Warrants. This allotment was finalized on March 25, 2026, upon receipt of the balance subscription amount (75% of the issue price) from the warrant holders.
Terms of Conversion
The warrants, originally allotted on September 27, 2024, were converted at an issue price of Rs. 417/- per share, which includes a premium of Rs. 415/-. The conversion price reflects the full realization of the subscription price agreed upon during the initial preferential allotment.
Post-Conversion Capital Structure Update
This conversion has resulted in an increase in the issued, subscribed, and paid-up capital of the Company. The total number of equity shares has moved From 17,62,47,008 shares to 17,74,95,255 shares. Correspondingly, the paid-up capital aggregate value increased From Rs. 35,24,94,016/- to Rs. 35,49,90,510/-. These newly allotted shares will rank pari passu with the existing equity shares of the Company.
Details of Allottees and Consideration Received
The conversion involved 5 investors who exercised their option. The total balance consideration received at the time of conversion amounted to Rs. 39,03,89,249.25. Key allottees included Ushma Mehta (Non-Promoter) and Eminence Global Fund PCC – Eubilia Capital Partners Fund I (QIB).
The total consideration received for the issuance of these 12,48,247 shares, including the initial 25% already paid, is Rs. 52,05,18,999.
Shareholding Changes Summary
The transaction resulted in significant changes in the shareholding percentage for the 5 allottees:
- Sanjeev Verma (Non-Promoter, KMP): Pre-issue holding of 1.25% increased to 1.27% (holding 22,54,889 shares).
- Ushma Mehta (Non-Promoter): Pre-issue holding of 0.42% increased to 0.78% (holding 14,15,173 shares).
- Eminence Global Fund PCC – Eubilia Capital Partners Fund I (QIB): Pre-issue holding of 0.25% increased to 0.29% (holding 5,20,520 shares).
- Black Hawk Properties Pvt Ltd (Non-Promoter): Acquired a 0.22% stake by subscribing to 3,83,693 shares.
- Rajesh Rautela (Non-Promoter): Acquired a 0.03% stake by subscribing to 50,359 shares.
The Company confirms that with this conversion, all warrants issued under this specific preferential issue have been fully converted into equity shares, concluding the transaction successfully.
Source: BSE
