Epic Energy Limited Allots 38,00,000 Convertible Warrants Worth Rs.4,75,00,000
Epic Energy Limited completed the allotment of 38,00,000 convertible warrants at Rs.50 per warrant on March 24, 2026, raising Rs.4,75,00,000 from 9 investors. The allotment included both promoter and non-promoter categories, with Soleos Solar Energy Pvt. Ltd. being the largest allottee with 20,00,000 warrants. Each warrant is convertible into one equity share upon payment of balance Rs.37.50 per warrant.
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Epic Energy Limited's board of directors has successfully completed the allotment of 38,00,000 convertible warrants, marking a significant capital raising milestone for the company. The board meeting held on March 24, 2026, approved the preferential allotment following earlier shareholder approval and regulatory clearances.
Warrant Allotment Details
The convertible warrants were allotted at an issue price of Rs.50 per warrant, with investors paying 25% of the issue price upfront as subscription amount. The company has received a total amount of Rs.4,75,00,000 from the warrant subscription.
| Parameter: | Details |
|---|---|
| Total Warrants Allotted: | 38,00,000 |
| Issue Price per Warrant: | Rs.50.00 |
| Subscription Amount per Warrant: | Rs.12.50 (25% of issue price) |
| Total Amount Received: | Rs.4,75,00,000 |
| Number of Investors: | 9 |
| Face Value per Share: | Rs.10.00 |
| Balance Amount per Warrant: | Rs.37.50 |
Investor Composition and Allotment Breakdown
The warrant allotment was distributed among 9 investors spanning both promoter and non-promoter categories. Soleos Solar Energy Pvt. Ltd. emerged as the largest allottee, securing 20,00,000 warrants worth Rs.2,50,00,000.
| Allottee Name: | Warrants Allotted | Amount Paid (Rs.) | Category |
|---|---|---|---|
| Soleos Solar Energy Pvt. Ltd.: | 20,00,000 | 2,50,00,000 | Non Promoter |
| Nikhil Champaklal Morsawala: | 6,00,000 | 75,00,000 | Promoter |
| Veena Nikhil Morsawala: | 6,00,000 | 75,00,000 | Promoter |
| Sanjay Agarwal: | 1,50,000 | 18,75,000 | Non Promoter |
| Nikhil Vinod Pandya: | 1,00,000 | 12,50,000 | Non Promoter |
| Bhalchandra Ramrao Kadam: | 1,00,000 | 12,50,000 | Non Promoter |
| Rajeev Jagannath Anand: | 1,00,000 | 12,50,000 | Non Promoter |
| Sahil Raman Anand: | 1,00,000 | 12,50,000 | Non Promoter |
| Keki M. Mistry: | 50,000 | 6,25,000 | Non Promoter |
Regulatory Compliance and Conversion Terms
The allotment was undertaken in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company had received in-principle approval from BSE Limited on March 10, 2026, and shareholder approval through special resolution on December 18, 2025.
Each convertible warrant can be exchanged for one fully paid equity share of face value Rs.10 each. Warrant holders will need to pay the balance consideration of Rs.37.50 per warrant at the time of conversion to equity shares. The conversion process will be conducted within the stipulated timeframe as per regulatory requirements.
Board Meeting Proceedings
The board meeting commenced at 11:15 AM and concluded at 11:55 AM on March 24, 2026. Company Secretary Sandipkumar Gupta signed the regulatory filings, ensuring compliance with SEBI Listing Regulations and related circulars. The company has committed to inform stock exchanges about warrant conversions or lapses as they occur.
Historical Stock Returns for Epic Energy
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | +19.53% | +7.62% | -21.71% | -25.25% | +1,220.07% |
How will Epic Energy utilize the Rs.4.75 crore raised from warrant subscriptions to accelerate its business expansion plans?
What factors might influence warrant holders' decisions to convert their warrants to equity shares before the expiration deadline?
Could Soleos Solar Energy's significant 52.6% stake in the warrant allotment signal a potential strategic partnership or acquisition interest?
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