Prostarm allots 28.99 lakh preferential convertible warrants at ₹147 each
As filed · Prostarm Info Systems Limited has informed the Exchange regarding allotment of 2898717 convertible warrants pursuant to Preferential Issue through circular resolution passed on October 15, 2026
CapitalMixedNotablemateriality 62 out of 100
What happened
FactProstarm Info Systems allotted 28,98,717 convertible warrants to identified non-promoter investors on a preferential basis. The warrants are priced at ₹147 each and could raise an aggregate ₹42,61,11,399 if fully converted; the company has received ₹10,65,27,849.75 upfront, representing 25% of the issue price.
Why it matters
CapitSignal interpretationShares are issued to named investors at a set price, diluting existing holders and changing who sits on the register.
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Fact- Who the allottees are
- Issue price versus market price
- Lock-in period on the new shares
- We are confident of achieving a good number for the current financial year, which would be in the range of 20% (management committed by FY26)
- So, if you take roughly out of this, roughly around 20% would be executed in the current financial year. (management committed by FY26)
Evidence
How CapitSignal classified this
- Reasoning:
- Full conversion would bring the remaining 75% of the issue price to the company and result in the issue of one equity share for each warrant. Conversion is optional for holders; unexercised warrants lapse after 18 months and the subscription amount paid is forfeited.
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 90%