Krishna Institute of Medical Sciences Limited’s Board of Directors has approved a preferential allotment of 77,02,182 warrants to promoter and promoter group members. These warrants are convertible into equity shares at a price of ₹779.00 each, including a premium of ₹777.00. The total consideration amounts to approximately ₹599.99 crore. The company also announced an Extra-Ordinary General Meeting for shareholder approval.
Preferential Allotment of Warrants Approved
The Board of Directors of Krishna Institute of Medical Sciences Limited, in its meeting held on Saturday, June 13, 2026, has approved a significant preferential allotment of warrants. This allotment is to members of the promoter and promoter group, involving a total of 77,02,182 warrants. Each warrant is fully convertible into one fully paid-up equity share of the Company with a face value of ₹2/-.
Key Details of the Allotment
The warrants will be offered on a private placement basis at a price of ₹779.00 per warrant. This price includes a premium of ₹777.00 per warrant. The total aggregate consideration for the allotment is approximately ₹599,99,99,778/- (Indian Rupees Five Hundred Ninety-Nine Crore Ninety-Nine Lakh Ninety-Nine Thousand Seven Hundred And Seventy-Eight only). The allotment is subject to the approval of the shareholders and other regulatory authorities.
Proposed Allottees and Consideration
The proposed allottees include:
- Dr. Abhinay Bollineni (Promoter): 32,09,242 warrants, with an aggregate consideration of ₹2,49,99,99,518/-.
- Mr. Adwik Bollineni (Promoter): 32,09,242 warrants, with an aggregate consideration of ₹2,49,99,99,518/-.
- Bharas Ventures LLP (Promoter Group): 12,83,698 warrants, with an aggregate consideration of ₹1,00,00,00,742/-.
The Relevant Date for determining the Warrant Issue Price was Tuesday, June 09, 2026.
Convertibility and Tenure of Warrants
Each warrant can be exercised to convert into an equity share within 18 months from the allotment date. An amount equivalent to 25% of the Warrant Issue Price is payable at the time of subscription and allotment, with the remaining 75% payable at the time of exercise. If not exercised within 18 months, the warrants and any amounts paid will be forfeited.
Extra-Ordinary General Meeting
The Board has also approved the convening of an Extra-Ordinary General Meeting (EGM) of the shareholders on July 09, 2026. This meeting will be held through video conferencing or other audio-visual means to seek necessary approvals for the proposed preferential allotment. The draft EGM notice has been approved and will be submitted to the stock exchanges in due course.
The meeting commenced at 10:30 AM and concluded at 12:45 PM.
Source: BSE
