Kizi Apparels Completes Board Meeting for 23.04 Lakh Convertible Warrants Allotment
Kizi Apparels Limited successfully completed the allotment of 23,04,000 convertible warrants at Rs. 15.50 per warrant following a board meeting on March 24, 2026. The allotment was made to promoter group members and public category investors on preferential basis, raising Rs. 89.28 lakh as 25% consideration with conversion period of 18 months.
*this image is generated using AI for illustrative purposes only.
Kizi Apparels Limited has successfully completed the allotment of 23,04,000 convertible warrants following its Board of Directors meeting held on March 24, 2026. The company formally communicated the board meeting outcome to BSE, confirming the allotment of warrants to persons and entities belonging to the promoter/promoter group and public category on a preferential basis.
Board Meeting Details
The Board of Directors meeting was conducted at the company's registered office at H-629 Phase-II RIICO Industrial Area Sitapura, Jaipur-302022, Rajasthan. The meeting commenced at 5:30 PM and concluded at 6:40 PM on March 24, 2026. The board approved and allotted convertible warrants in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
| Parameter: | Details |
|---|---|
| Warrants Allotted: | 23,04,000 |
| Issue Price: | Rs. 15.50 per warrant |
| Face Value: | Rs. 10.00 per share |
| Premium: | Rs. 5.50 per warrant |
| Conversion Period: | 18 months from allotment date |
| Total Consideration (25%): | Rs. 89.28 lakh |
Complete Allottee Distribution
The warrant allotment was distributed among ten allottees as detailed in the official board meeting outcome. Managing Director Abhishek Nathani received the largest allocation of 5,01,000 warrants, followed by other promoter group members and public category investors.
| Allottee Name: | Warrants Allotted | Consideration Amount (Rs.) |
|---|---|---|
| Abhishek Nathani: | 5,01,000 | 19,41,375 |
| Kiran Nathani: | 3,99,000 | 15,46,125 |
| Raj Kumar Nathani: | 3,00,000 | 11,62,500 |
| Suchitra Nathani: | 3,00,000 | 11,62,500 |
| Surinder Goel: | 69,000 | 2,67,375 |
| Surinder Goel HUF: | 1,29,000 | 4,99,875 |
| Umang Kamlesh Vora: | 1,02,000 | 3,95,250 |
| Paresh J Patel: | 1,02,000 | 3,95,250 |
| Parshva Alloys Private Limited: | 2,01,000 | 7,78,875 |
| Evolvion Advisory Private Limited: | 2,01,000 | 7,78,875 |
Conversion Terms and Regulatory Framework
Each warrant entitles the holder to convert into one fully paid-up equity share of Rs. 10.00 face value within 18 months from the allotment date. The allotment follows the terms outlined in the Extra-Ordinary General Meeting notice dated March 9, 2026, and complies with SEBI regulations for preferential issues.
Warrant holders will need to pay the remaining 75% of the issue price at the time of exercising the conversion option. The company has received Rs. 89.28 lakh as 25% consideration upfront, with the balance amount payable upon conversion. This structure provides immediate capital to the company while offering investors flexibility based on future market conditions and company performance.
Historical Stock Returns for Kizi Apparels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -100.00% | -100.00% | -100.00% | -100.00% | -100.00% | -100.00% |
How will Kizi Apparels utilize the Rs. 89.28 lakh immediate capital and potential Rs. 2.68 crore additional funds from warrant conversions for business expansion?
What factors might influence warrant holders' conversion decisions over the next 18 months, and what is the expected conversion rate?
Will the potential dilution from 23.04 lakh new shares significantly impact existing shareholders' voting rights and earnings per share?
20
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
