Ganesh Green Bharat approves ₹6.85 crore warrant issue to promoters
Ganesh Green Bharat Limited's Board approved the preferential allotment of 1,99,000 warrants to promoters, aggregating ₹6.85 crore, at a price of ₹344.34 per warrant. The company will convene an EGM on June 25, 2026, to seek shareholder approval for the issuance and alteration of the Articles of Association, while revoking a proposal to increase authorized share capital.
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Ganesh Green Bharat Limited has approved the issuance of 1,99,000 fully convertible equity warrants to its promoter group on a preferential basis to raise ₹6,85,23,660. The warrants, priced at ₹344.34 each including a premium of ₹334.34, will be issued to Shilpaben Ketanbhai Patel and Ashaben Rajendrakumar Patel. The company will seek shareholder consent for this proposal and the alteration of its Articles of Association at an Extraordinary General Meeting (EGM) on June 25, 2026.
The Board approved the issuance during a meeting held on May 30, 2026. The warrants will be issued in accordance with Section 42 and Section 62(1)(c) of the Companies Act, 2013, and relevant SEBI regulations. The pricing was determined based on a valuation report submitted by Den Valuation (OPC) Private Limited, an independent registered valuer, with May 26, 2026, fixed as the relevant date.
An amount equivalent to 25% of the warrant issue price is payable at the time of subscription and allotment. The remaining 75% will be due upon the exercise of the warrants, which can be done in one or more tranches within 18 months from the date of allotment. The Board has appointed CS Nigamkumar Govindbhai Sathavara as the scrutinizer to oversee the e-voting process for the EGM.
The company decided to revoke a previously proposed agenda to increase the authorized share capital following deliberations during the Board meeting. The notice for the EGM will be sent to shareholders and stock exchanges in accordance with SEBI Listing Regulations.
| Sr. No. | Name of Proposed Allottees | Maximum Number of Warrants | Category | Maximum Consideration |
|---|---|---|---|---|
| 1 | Shilpaben Ketanbhai Patel | 99,500 | Promoter | 3,42,61,830.00 |
| 2 | Ashaben Rajendrakumar Patel | 99,500 | Promoter's Group | 3,42,61,830.00 |
| Total | 1,99,000 | 6,85,23,660.00 |
Historical Stock Returns for Ganesh Green Bharat
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.50% | -10.12% | -4.21% | -13.79% | -21.85% | -13.47% |
How does the company plan to utilize the ₹6.85 crore raised through this warrant issuance?
What impact will the conversion of these warrants have on the company's equity dilution and promoter holding percentage?
Why did the Board decide to revoke the proposal to increase the authorized share capital?
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