Mantra Capital Limited has completed the allotment of equity shares and warrants under its preferential issue, raising Rs. 12.15 crore through the private placement. The company informed BSE Limited on April 08, 2026, about the successful completion of the allotment process following receipt of subscription amounts from eligible investors.

Equity Share Allotment Details

The company successfully allotted 38.25 lakh equity shares to six non-promoter investors out of the originally planned seven offerees. The allotment was made at an issue price of Rs. 20.00 per share, including a premium of Rs. 10.00 per share, for an aggregate consideration of Rs. 7.65 crore.

Notably, Mr. Arun Heble, one of the original offerees, did not subscribe to his entitlement in the preferential issue, resulting in his exclusion from the final allotment.

Warrant Allotment to Promoter

Simultaneously, the company allotted 45 lakh warrants to Ms. Deepa Kishor Tracy, the promoter and Managing Director. The warrants were issued at Rs. 20.00 each, with Ms. Tracy paying 50% of the issue price amounting to Rs. 4.50 crore at the time of application.

The remaining 50% of the warrant value will be payable upon exercise of the warrants, which can be done in one or more tranches within 18 months from the allotment date.

Regulatory Compliance and Approvals

The preferential issue was conducted following comprehensive regulatory approvals. The Board of Directors and shareholders had previously approved the issue through special resolutions passed at the Extraordinary General Meeting held on February 27, 2026. BSE Limited granted in-principle approval for the preferential issue on March 24, 2026, following which private placement offer letters in Form PAS-4 were issued to eligible investors on March 25, 2026.

Impact on Share Capital

Upon full exercise of the warrants into equity shares, the company's paid-up share capital will increase to Rs. 40.28 crore, comprising 4.03 crore equity shares of Rs. 10.00 face value each. This represents a significant expansion of the company's equity base and provides additional capital for business operations and growth initiatives.

Mantra Capital Limited has received in-principle approval from BSE Limited for its preferential issue of equity shares and warrants. The company announced this development on March 25, 2026, following the approval received on March 24, 2026.

Preferential Issue Details

The BSE approval covers the issuance of securities on a preferential basis with specific allocations for different investor categories:

The warrants are convertible into an equal number of equity shares of Rs.10/- each. The total value of the preferential issue, at the minimum price of Rs.20/- per security, amounts to Rs.18.65 crore.

Regulatory Compliance Requirements

BSE has outlined several compliance requirements that Mantra Capital must fulfill. The company must ensure strict adherence to provisions of the Companies Act, 2013, Securities Contracts (Regulation) Act, 1956, SEBI Act, 1992, and the Depositories Act, 1996. Additionally, compliance with Chapter V of SEBI ICDR Regulations, 2018, and SEBI LODR Regulations, 2015, is mandatory.

Internal Controls and Trading Restrictions

The exchange has advised the company to strengthen internal controls to monitor trades executed by proposed allottees. Key requirements include:

• Obtaining undertakings from allottees confirming no intra-day trading in company scrip
• Ensuring no sale transactions in company scrip until allotment date
• Verification of compliance with Regulation 167(6) of SEBI ICDR Regulations, 2018
• Monitoring to prevent non-compliances that may impact listing of shares

Post-Allotment Obligations

As per SEBI circular dated June 21, 2023, any non-compliance with the twenty-day listing application requirement will attract penalties. The company must also note that convertible securities will result in automatic release of excess lock-in period of pre-preferential holdings by depositories.

Important Disclaimers

BSE has clarified that this in-principle approval should not be construed as approval for listing of the securities. The company must separately comply with listing requirements. The exchange reserves the right to withdraw this approval if submitted information is found incomplete, incorrect, misleading, or contravenes applicable regulations.

Mantra Capital Limited, formerly known as Savani Financials Limited, operates under scrip symbol MANTRA with scrip code 511577 on BSE. The approval letter was signed by Marian Dsouza, Assistant Vice President, and Tejas Tandel, Deputy Manager, from BSE Limited.