Bonlon Industries Limited has successfully completed the allotment of 22,00,000 equity shares through warrant conversion, as announced by the company's Board of Directors on March 30, 2026. The conversion process involved two promoter group entities and resulted in a capital infusion of Rs 5,44,50,000.

Warrant Conversion Details

The Board of Directors approved the allotment of 22,00,000 equity shares with a face value of Rs 10 each at an issue price of Rs 33 per share, including a premium of Rs 23 each. The conversion was executed upon receipt of the balance amount aggregating to Rs 5,44,50,000 at the rate of Rs 24.75 per warrant, representing 75% of the issue price per warrant.

Allottee Information

Two promoter group entities participated in the warrant conversion process. Bon-Lon Securities Ltd and Harshit Finvest Pvt Ltd each converted 11,00,000 warrants into an equal number of equity shares, with each entity contributing Rs 2,72,55,000 to the company.

Regulatory Disclosure and Shareholding Impact

Following the warrant conversion, Bon Lon Securities Limited filed a disclosure under Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 2011. The promoter group's total shareholding increased significantly, with their combined voting rights rising to 71.21% post-acquisition.

Impact on Share Capital

Following the warrant conversion and equity share allotment, the company's issued and paid-up capital has increased to Rs 16,38,33,580, consisting of 1,63,83,358 equity shares of Rs 10 each. The newly allotted equity shares rank pari-passu with the existing equity shares of the company, providing equal rights and privileges to the holders.

Outstanding Warrants

The company disclosed that 75,00,000 warrants remain outstanding for conversion among various promoter group entities. These warrant holders are entitled to convert their warrants into an equal number of equity shares by paying the remaining 75% amount of Rs 24.75 per warrant within the stipulated timeframe. The total diluted share capital, assuming full conversion of all outstanding warrants, would be Rs 26,23,83,580 comprising 2,62,38,358 equity shares.

The Board meeting for this approval was conducted on March 30, 2026, commencing at 04:00 PM and concluding at 06:00 PM. The allotment was completed in accordance with SEBI (ICDR) Regulations, 2018, and the disclosure requirements under Regulation 30 of SEBI Listing Regulations.

Bonlon Industries Limited has notified stock exchanges about receiving an order and demand notice from the Income Tax Department, marking a significant regulatory development for the cable and wire manufacturer.

Regulatory Disclosure Details

The company received the order and demand notice on March 31, 2026, under sections 147 and 156 of the Income Tax Act, 1961, pertaining to Assessment Year 2021-22. This disclosure was made pursuant to Regulation 30 of SEBI (LODR) Regulations 2015, with the company treating the matter as price-sensitive information under SEBI's Prohibition of Insider Trading Regulations, 2015.

Order Specifications

The comprehensive details of the Income Tax Department action are outlined in the regulatory filing:

Company's Response Strategy

Bonlon Industries has expressed confidence in its position regarding the tax matter. The company stated it believes it has a strong case on merit and will be filing an appeal against the order before the appropriate authority. Management indicated they expect to defend the matter before appellate authorities without any financial impact on the company.

Regulatory Compliance Framework

The disclosure was made in accordance with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The company has committed to promptly updating stock exchanges regarding any further material developments in this matter.

Business Context

Bonlon Industries Limited operates as a manufacturer and exporter of cables and wires, while also functioning as a wholesale trader and importer of non-ferrous metals. The company maintains ISO certifications including 14001:2015, 45001:2018, 9001:2015, and 9000:2015 for quality management systems, with operations spanning multiple locations including manufacturing plants in Rajasthan and offices in Delhi and Mumbai.