Karnika Industries allots 39.66 lakh warrants at ₹121 each
Karnika Industries allotted 39,66,860 convertible warrants at ₹121 each to promoters and non-promoters. The warrants are convertible into equity shares within 18 months from the date of allotment.
*this image is generated using AI for illustrative purposes only.
Karnika Industries has allotted 39,66,860 convertible warrants at a price of ₹121 each on a preferential basis to promoters and non-promoters. The Board of Directors approved the allotment on June 18, 2026, following the receipt of 25% of the subscription amount from the allottees. The warrants carry a premium of ₹111 over the face value of ₹10 per share.
The allotment was approved by shareholders at an Extra-Ordinary General Meeting held on May 11, 2026, and received in-principle approval from the National Stock Exchange of India Limited on June 5, 2026. The issuance complies with Section 42 and 62 of the Companies Act, 2013, and Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
Warrant Details
Each warrant entitles the holder to subscribe to one fully paid-up equity share of ₹10 each. The warrants can be exercised in one or more tranches on or before the expiry of 18 months from the date of allotment. If the conversion option is not exercised within this period, the warrants will lapse, and the amount paid will be forfeited by the company.
Allottee Breakdown
The warrants were allotted to 14 entities, including promoters and a non-promoter. The table below details the allocation:
| Name of the Allottees | Category | No. of Convertible Warrants Allotted |
|---|---|---|
| Niranjan Mundhra | Promoter | 247930 |
| Shiv Shankar Mundhra | Promoter | 247930 |
| Mahesh Kumar Mundhra | Promoter | 247930 |
| Jagdish Prasad Mundhra | Promoter | 661150 |
| Saroj Devi Mundhra | Promoter | 330570 |
| Poonam Mundhra | Promoter | 330570 |
| Priyanka Mundhra | Promoter | 330570 |
| Kirti Mundhra | Promoter | 330570 |
| Krishan Kumar Karnani | Promoter | 82640 |
| Jagdish Prasad Mundhra HUF | Promoter | 247930 |
| Niranjan Mundhra HUF | Promoter | 247930 |
| Shiv Shankar Mundhra HUF | Promoter | 247930 |
| Mahesh Kumar Mundhra HUF | Promoter | 247930 |
| Bhagwan Nath Sidh | Non-Promoter | 165280 |
| Total | 3966860 |
Post-Allotment Shareholding
Assuming full conversion of the warrants, the shareholding structure will change. For instance, Niranjan Mundhra’s holding will increase to 15,412,930 shares, representing 23.36% of the equity share capital. The total number of investors allotted warrants is 14.
Historical Stock Returns for Karnika Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.55% | -4.84% | -2.35% | +7.95% | -80.96% | +53.69% |
How does Karnika Industries plan to utilize the approximately ₹48 crore raised through this warrant issuance?
What impact will the significant promoter stake increase have on the company's corporate governance and minority shareholder interests?
What strategic initiatives or expansion plans is the company pursuing that necessitated this capital infusion?
20
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
