Cranex Limited has secured a significant purchase order from ICF Chennai for the manufacturing and supply of a 40T EOT Crane with Lifting Tackle. The order, valued at Rs. 1,99,73,860/-, was disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on 12th May, 2026.

Order Details

The purchase order is domestic in nature and covers the supply of a 40T EOT Crane with Lifting Tackle. The company disclosed that the products are to be delivered within the agreed timeline, with the order incorporating standard terms related to quality, delivery schedule, and pricing as mutually agreed upon by both parties. The key details of the order are summarised below:

Compliance and Disclosure

The disclosure was made pursuant to Regulation 30 and other applicable regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/2023/120 dated July 11, 2023, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155. The company confirmed that neither the promoter, promoter group, nor group companies hold any interest in ICF Chennai, and the transaction does not constitute a related party transaction.

The disclosure was signed by Heena Sharma, Company Secretary and Compliance Officer of Cranex Limited, on 12th May, 2026.

Cranex Limited completed significant equity restructuring activities on April 24, 2026, involving warrant conversion, share allotment, and warrant forfeiture, followed by mandatory regulatory disclosures under SEBI regulations. The company's Board of Directors approved the allotment of 14,50,000 equity shares upon warrant conversion while simultaneously forfeiting 7,60,000 warrants due to non-exercise by warrant holders.

SEBI Substantial Acquisition Disclosure

Following the warrant conversion, Cranex Limited filed a substantial acquisition disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was submitted by Chaitanya Agrawal on behalf of the promoter group, which includes Piyush Agrawal, Ritu Agrawal, Chaitanya Agrawal, Amitabh Agrawal, and Ritu Investment Pvt. Ltd.

Equity Share Allotment Details

The company allotted 14,50,000 equity shares of face value Rs. 10.00 each at an issue price of Rs. 102.00 per share, including a premium of Rs. 92.00 each. The allotment was made to eight investors across promoter and non-promoter categories.

Promoter Group Shareholding Changes

The SEBI disclosure reveals detailed changes in promoter group holdings following the warrant conversion. The promoter group converted 7,00,000 warrants into equity shares, significantly altering their shareholding pattern.

Share Capital Impact

Following the warrant conversion, the company's equity structure underwent substantial changes. The paid-up equity share capital increased from Rs. 6,57,00,000 to Rs. 8,02,00,000, with total shares outstanding reaching 80,20,000 equity shares of Rs. 10.00 face value each.

Warrant Forfeiture Details

Simultaneously, the company forfeited 7,60,000 warrants due to non-exercise of conversion option within the stipulated 18-month period. Seven warrant holders failed to convert their warrants into equity shares, resulting in forfeiture of the 25% amount paid at warrant allotment.