Onida Electronics Allots 73.86 Lakh Warrants for ₹6.5 Crore
Onida Electronics Limited approved the allotment of 73,86,362 warrants convertible into equity shares at ₹35.20 per warrant. The company received ₹6.5 crore as subscription amount. The warrants are allotted to three public investors and can be exercised within 18 months.
The preferential allotment of warrants is a significant fundraising activity that can impact the company's capital structure and future growth prospects. The amount raised is substantial relative to the company's operations.
The allotment of warrants signifies fundraising and investor confidence, which is generally a positive development for the company.
Onida Electronics Limited (formerly MIRC Electronics Limited) has approved the allotment of 73,86,362 warrants, convertible into an equal number of equity shares, on a preferential basis. The allotment was approved by the Finance Committee of the Board of Directors at its meeting held on September 17, 2026.
Each warrant is priced at ₹35.20, with the company receiving 25% of the issue price, amounting to ₹8.80 per warrant. The total subscription amount received for these warrants is ₹6,49,99,985.60 (Rupees Six Crore Forty-Nine Lakhs Ninety-Nine Thousand Nine Hundred Eighty-Five and Sixty Paise Only).
The warrants have been allotted to three public category investors: Resonance Opportunities Fund (28,40,909 warrants), Nexta Enterprises LLP (42,61,363 warrants), and Aamara Capital Private Limited (2,84,090 warrants). The allotment is in accordance with the approval of shareholders at the Extra-Ordinary General Meeting held on June 8, 2026, and with in-principle approvals from BSE Limited and the National Stock Exchange of India Limited dated September 1, 2026.
The allotment of these warrants does not immediately change the company's issued, subscribed, and paid-up equity share capital. The warrant holders have the right to exercise their conversion into equity shares within 18 months from the allotment date. Failure to exercise this right within the stipulated period will result in the forfeiture of the subscription amount paid for the unexercised warrants.
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Onida Electronics Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. 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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