Hindon Mercantile Limited Acquires Convertible Warrants in Mufin Green Finance Limited
Hindon Mercantile Limited and its PACs acquired 76,53,061 convertible warrants (3.72%) in Mufin Green Finance Limited through allotment on March 04, 2026. While their equity shareholding percentage decreased from 54.11% to 45.54% due to dilution, their total holding including warrants increased to 49.26%. The target company's equity share capital expanded from 17,32,31,423 to 19,81,62,188 shares following the transaction.
*this image is generated using AI for illustrative purposes only.
Hindon Mercantile Limited has announced a substantial acquisition in Mufin Green Finance Limited through the allotment of convertible warrants, as disclosed under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Acquisition Details
The acquisition involves Hindon Mercantile Limited and its Persons Acting in Concert (PACs), which include Kapil Garg, Shelly Garg, Saurabh Garg, Pooja Garg, and Bima Pay Technology Private Limited. The group belongs to the promoter category of the target company.
| Parameter | Details |
|---|---|
| Target Company | Mufin Green Finance Limited |
| Warrants Acquired | 76,53,061 |
| Acquisition Percentage | 3.72% |
| Acquisition Date | March 04, 2026 |
| Mode of Acquisition | Allotment of Convertible Warrants |
Holdings Comparison
The acquisition has resulted in changes to the promoter group's shareholding pattern in Mufin Green Finance Limited:
| Holding Category | Before Acquisition | After Acquisition |
|---|---|---|
| Shares with Voting Rights | 9,37,35,653 (54.11%) | 9,37,35,653 (45.54%) |
| Convertible Warrants | - | 76,53,061 (3.72%) |
| Total Holdings | 9,37,35,653 (54.11%) | 10,13,88,714 (49.26%) |
Share Capital Structure
The transaction has impacted Mufin Green Finance Limited's overall share capital structure:
| Capital Type | Amount |
|---|---|
| Equity Share Capital Before Acquisition | 17,32,31,423 shares of Rs. 1/- each |
| Equity Share Capital After Acquisition | 19,81,62,188 shares of Rs. 1/- each |
| Total Diluted Share Capital | 20,58,15,249 shares of Rs. 1/- each |
Key Observations
While Hindon Mercantile Limited and its PACs acquired additional securities through convertible warrants, their percentage holding in equity shares decreased from 54.11% to 45.54% due to dilution caused by allotments to other investors. However, when including the newly acquired convertible warrants, their total potential holding stands at 49.26%.
The convertible warrants are equity shares of Rs. 1 each and provide the holders with the right to convert them into equity shares of the target company. Mufin Green Finance Limited's shares are listed on both BSE Limited and National Stock Exchange of India Limited.
This disclosure was signed by Kapil Garg, Managing Director of Hindon Mercantile Limited (DIN: 01716987), and dated March 24, 2026, from Delhi.
Historical Stock Returns for Mufin Green Finance
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.91% | -3.10% | -12.99% | +14.05% | +42.89% | -25.70% |
What strategic initiatives might Mufin Green Finance Limited pursue with the additional capital raised from this warrant allotment?
How could the conversion of these warrants impact Mufin Green Finance's stock liquidity and trading dynamics on BSE and NSE?
Will Hindon Mercantile Limited seek to regain majority control through additional acquisitions or warrant conversions in the coming quarters?
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