BIL Allots 4.26 Lakh Equity Shares to Promoter Group on Warrant Conversion, Raises ₹13.74 Crore
The event involves a significant capital raise and an increase in the company's issued and paid-up capital. The full conversion of warrants also clarifies the equity structure and removes outstanding convertible instruments, indicating a planned financial action with a notable impact on the company's financials and shareholding pattern.
The conversion of warrants into equity shares by a promoter group entity, along with the associated capital infusion of ₹13.74 crore, strengthens the company's equity base and demonstrates continued commitment from the promoters.
* On 2nd September 2025, Bhartiya International Limited's Management Committee approved the allotment of 4,26,000 fully paid-up equity shares. * These shares, with a face value of ₹10 each, were allotted at an issue price of ₹430 (including a premium of ₹420) to Urbanac Projects Private Limited, a Promoter & Promoter Group entity. * The allotment was a result of the conversion of 4,26,000 fully convertible warrants, following the receipt of the balance amount of ₹13,73,85,000 (Rupees Thirteen Crores Seventy-Three Lakhs Eighty-Five Thousand). * This balance amount was paid at ₹322.50 per warrant, representing 75% of the issue price. The warrants were initially allotted upon payment of ₹107.50 per warrant (25% of the issue price). * Consequent to this conversion, the company's issued and paid-up capital has increased to ₹13,41,04,110, consisting of 1,34,10,411 equity shares of ₹10 each. * All 12,01,000 warrants allotted on 14th June 2024 have now been fully converted into equity shares, with no warrants remaining outstanding. * Urbanac Projects Private Limited's equity holding increased from 7,75,000 shares (5.97%) to 12,01,000 shares (8.956%) post-allotment.
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Bhartiya International Limited filed this with the NSE as a statutory disclosure, categorised under corporate actions. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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