Diana Tea Company Limited acquirers have disclosed the acquisition of 40,74,075 Equity Convertible Warrants. Each warrant was issued at a price of ₹27, including a premium of ₹22, and entitles the holder to subscribe to one fully paid-up equity share of face value ₹5 upon conversion. This transaction, made via preferential allotment, is a disclosure under SEBI’s Substantial Acquisition of Shares and Takeovers Regulations, 2011.
Disclosure of Warrant Acquisition
In a significant disclosure filed on November 6, 2026, the acquirers related to Diana Tea Company Limited have reported the acquisition of 40,74,075 Equity Convertible Warrants. This acquisition is in accordance with Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The transaction involves warrants issued through a preferential allotment by Diana Tea Company Limited.
Warrant Details and Conversion Rights
Each of the acquired convertible warrants was issued at a price of ₹27 per warrant. This price includes a premium of ₹22 per warrant. Crucially, each warrant grants the holder the right to subscribe to one fully paid-up equity share of Diana Tea Company Limited. These equity shares have a face value of ₹5. The total number of warrants acquired represents a substantial potential increase in the equity shareholding of the acquirers and their Persons Acting in Concert (PACs).
Acquirers and Associated Parties
The listed acquirers include Mr. Sandeep Singhania, Mrs. Sarita Singhania, Mr. Devang Singhania, Ms. Vani Singhania, and Diana Capital Limited. These individuals and entities are identified as members of the Promoter and Promoter Group of Diana Tea Company Limited. The disclosure also accounts for the holdings of associated Persons Acting in Concert (PACs), including Surbhi Pratik Dalmia, Shachi Singhania, and Singhania Builders Limited.
Shareholding Context
Prior to this acquisition, the aggregate holding of the acquirers and PACs, including shares, voting rights, and convertible securities, represented 61.34% of the total equity share capital. The disclosure indicates that the acquisition of these warrants does not immediately confer voting rights until their conversion into equity shares. The filing emphasizes that this disclosure is made voluntarily and out of abundant caution, without implying that a fresh 5% threshold has been crossed under Regulation 29(1).
Financial Capital Overview
The equity share capital of Diana Tea Company Limited before the acquisition of warrants was ₹7,49,55,000, divided into 1,49,91,000 equity shares of ₹5 each. After the allotment of warrants, the equity share capital remains unchanged. However, the total diluted share/voting capital of the company is expected to increase significantly upon the full conversion of the outstanding warrants, reaching ₹9,53,25,375, representing 1,90,65,075 equity shares of ₹5 each.
Source: BSE
