Corporate Action28 Apr 2026, 03:40 pm
Titan Intech allots 2.55 Cr equity shares from warrant conversion
AI Summary
Titan Intech Ltd's Board of Directors, in a meeting on April 28, 2026, approved the allotment of 2,55,00,000 equity shares. These shares were allotted to seven public category allottees upon the full conversion of 2,55,00,000 convertible equity share warrants. The original preferential allotment of these warrants was made on November 8, 2024, at a price of ₹55 per warrant (face value ₹10, premium ₹45). The face value of shares has since decreased to ₹1.00, leading to the allotment of a higher number of equity shares upon conversion.
Key Highlights
- Board approved allotment of 2.55 crore equity shares.
- Shares allotted upon conversion of convertible equity share warrants.
- Seven public category allottees received the shares.
- Original warrants issued via preferential allotment at ₹55 each.
- Face value change to ₹1.00 resulted in higher share allotment.
Price Impact
More from TITANIN