Investment25 Feb 2026, 04:30 pm
Balu Forge Industries Allots 16,30,000 Equity Shares Upon Warrant Conversion
AI Summary
Balu Forge Industries Ltd. has allotted 16,30,000 equity shares fully paid up upon exercising the option available with the share warrant holder to convert the 16,30,000 warrants. The allotment was approved by the Board of Directors on February 25, 2026. The equity shares have a face value of Rs. 10/- each and were issued at an issue price of Rs. 360/- (Rupees Three Hundred Sixty Only) (including a premium of Rs. 350 per share). The allottees include Ebisu Global Opportunities Fund Limited Group, Rakesh Hasmukhlal Kanabar, and Ovata Equity Strategies Master Fund.
Key Highlights
- Balu Forge Industries allotted 16,30,000 equity shares.
- The allotment was made at an issue price of Rs. 360/- per share.
- The shares were issued upon conversion of warrants held by non-promoter group.
- Ebisu Global Opportunities Fund Limited Group, Rakesh Hasmukhlal Kanabar, and Ovata Equity Strategies Master Fund were the allottees.
- 75% of the total consideration for the warrants has been received.