Tirupati Forge Approves Allotment of 37 Lakh Warrants Worth ₹21.46 Crore to Promoters
Tirupati Forge Limited approved the allotment of 37 lakh convertible equity warrants to its promoters and promoter group for ₹21.46 crore. The issue price is ₹58 per warrant. Warrants are convertible into equity shares within 18 months.
The preferential allotment of warrants will raise ₹21.46 crore, which can be used for the company's growth and operational needs. This is a significant amount for the company and could impact its financial structure and future performance.
The preferential allotment of warrants to promoters indicates a commitment and potential future investment in the company, which is generally viewed positively.
Tirupati Forge Limited announced the outcome of its Board Meeting held on September 7, 2026. The board approved the allotment of 37,00,000 (Thirty-Seven Lakh) fully convertible equity warrants to the Promoters and Promoter Group on a preferential basis.
Each warrant is convertible into one fully paid-up equity share of the company with a face value of ₹2. The issue price per warrant is fixed at ₹58, including a premium of ₹56 per warrant. The total issue size aggregates to ₹21,46,00,000 (₹21.46 Crore). An upfront consideration of ₹5,36,50,000 (₹5.37 Crore), representing 25% of the total issue price, has been received.
The warrant holders are entitled to exercise their warrants within a period of 18 months from the date of allotment, subject to SEBI (ICDR) Regulations and other applicable laws. The allotment is in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
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Tirupati Forge 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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