Darjeeling Industries Limited has issued a clarification to BSE Limited regarding significant movement in its stock price, stating that the volatility is purely market-driven with no underlying material information causing the fluctuation.

Company Response to BSE Inquiry

The company responded to BSE's letter dated 16th March, 2026, which sought clarification on the significant price movement in the company's scrip. In its response dated 17th March, 2026, Darjeeling Industries emphasized that it has no price-sensitive or material information that could have resulted in the observed stock price movement.

Regulatory Compliance Statement

The company confirmed its adherence to regulatory requirements, stating that all disclosures under SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015 have been made within the stipulated timeframes. These disclosures cover any information that may have a possible impact or cause fluctuation in the company's stock price.

Managing Director Ashok Dilipkumar Jain, with DIN 03013476, digitally signed the clarification letter on behalf of the company. The response emphasized that there are currently no events, information, or announcements that need to be reported to the stock exchange.

Market-Driven Volatility

Darjeeling Industries attributed the stock price volatility to natural market forces rather than any company-specific developments. The company's clarification aims to address investor concerns and provide transparency regarding the recent price movements in its shares on the stock exchange.

The company, formerly known as Darjeeling Ropeway Company Limited, maintains its registered office at 104, Floor-1, Shreeji Darshan, Tata Road No. 2, Roxy Cinema Opera House, Girgaon, Mumbai. This clarification demonstrates the company's commitment to maintaining transparent communication with regulatory authorities and stakeholders regarding stock price movements.

Darjeeling Ropeway Company Limited has taken a significant step towards bolstering its capital structure by approving and allotting 70 lakh convertible warrants to non-promoter category investors on a preferential basis. This move, approved by the company's Board of Directors, is set to potentially triple the company's paid-up equity share capital upon full conversion of the warrants.

Warrant Allotment Details

The company has allotted 70,00,000 convertible warrants, each priced at Rs 16.80 per share. These warrants carry a face value of Rs 10 each, with a premium of Rs 6.80. The allottees have the option to convert each warrant into one equity share within an 18-month period from the date of allotment.

Financial Implications

• Current Paid-up Capital: Rs 3.05 crore (30.50 lakh equity shares)
• Potential Paid-up Capital: Rs 10.05 crore (1,00,50,000 equity shares)
• Total Consideration: Rs 11.76 crore (upon full conversion)
• Initial Payment Received: Rs 2.94 crore (25% of the total consideration)

Allotment Distribution

The warrants were allotted to 10 non-promoter category investors. Here's a breakdown of the top allocations:

Key Points

• The company has received 25% of the total consideration, amounting to Rs 2.94 crore.
• The remaining 75% will be payable upon conversion of the warrants into equity shares.
• Post-conversion, the total number of equity shares will increase from 30.50 lakh to 1,00,50,000.
• The new equity shares, once issued, will rank pari-passu with the existing equity shares of the company.

Regulatory Compliance

The allotment was made in accordance with the provisions of Chapter V of SEBI (ICDR) Regulations, 2018. The decision was taken at a board meeting held on September 23, which commenced at 12:00 P.M. and concluded at 12:40 P.M.

This strategic move by Darjeeling Ropeway Company Limited represents a significant step towards strengthening its capital base and potentially fueling future growth initiatives.