Panache Digilife Approves Preferential Issue of 6.07 Lakh Warrants Worth ₹21.56 Crore
Panache Digilife Limited approved the preferential issuance of up to 6,07,348 warrants to non-promoter Bhushan Gaonkar. The warrants are priced at ₹355 each, aggregating ₹21.56 crore. These warrants are convertible into equity shares within 18 months, subject to member and regulatory approvals.
The preferential issue is a significant amount for the company and will dilute existing shareholding upon conversion, impacting existing shareholders.
The preferential issue of warrants will raise capital for the company, which is generally viewed positively.
Panache Digilife Limited announced the outcome of its Board Meeting held on February 12, 2026, where the board approved the issuance of up to 6,07,348 warrants, each convertible into one equity share of face value ₹10. The warrants will be issued at a price of ₹355 each, aggregating up to ₹21.56 crore (₹21,56,08,540).
These warrants will be issued to a non-promoter, Mr. Bhushan Gaonkar, by way of preferential issue. The issuance is subject to necessary approvals from the company's members and regulatory authorities, including NSE and RBI. The warrant holders will pay ₹88.75 per warrant at the time of subscription and the balance ₹266.25 per warrant upon exercise. The warrants have a tenure of 18 months from the date of allotment, during which they can be exercised in one or more tranches. Unexercised warrants will lapse, and the subscription amount will be forfeited.
The board meeting commenced at 11:00 a.m. and concluded at 4:30 p.m. The company also disclosed details as per SEBI Master Circular, including the type of securities, issuance type, total number of securities, issue price, and conversion terms.
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Panache Digilife 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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