Nitco Ltd Allots 55,05,935 Equity Shares on Warrant Conversion

Nitco Ltd has announced the allotment of 55,05,935 equity shares of face value Rs. 10 each at a premium of Rs. 82.25 per share. This allotment is pursuant to the exercise and conversion of the balance convertible warrants by Mr. Vivek Prannath Talwar, a promoter of the company. The conversion follows the receipt of the remaining 75% of the issue price for these warrants. The initial allotment of 2,34,10,000 convertible warrants was made on January 27, 2025, at an issue price of Rs. 92.25 per warrant, with 25% received upfront. The newly allotted shares will rank pari-passu with existing equity shares.