Quint Digital Limited has issued the first and final call notice for its partly paid-up detachable warrants, requiring holders to pay ₹5 per warrant. The payment window opens on November 6, 2026, and closes on November 20, 2026.

The call applies to warrants issued on a rights basis pursuant to the Letter of Offer dated August 19, 2026. Eligible holders are those whose names appear in the Register of Members as of the record date, October 15, 2026. Trading in these warrants was suspended on stock exchanges from October 16, 2026, to facilitate this corporate action.

Payment Terms and Deadlines

Warrant holders must remit the outstanding amount within the specified 15-day period. Failure to pay by the deadline will result in penalties and potential forfeiture of the securities.

Consequences of Non-Payment

The company has outlined strict consequences for warrant holders who fail to meet the payment obligation. Non-payment or partial payment will be treated as a default, triggering specific punitive measures under the terms of the issue.

• Forfeiture: Partly paid-up warrants, including the application money already paid (₹5 per warrant), are liable to be forfeited.
• Interest Penalty: An interest rate of 10% per annum will apply to delayed payments from November 21, 2026, until the date of actual payment, unless waived by the company.
• Rejection of Partial Payments: Any part payment will be treated as non-payment, leading to forfeiture risks.

Conversion to Equity Shares

Upon successful payment of the first and final call, the partly paid-up warrants will be converted into fully paid-up equity shares. These shares will have a face value of ₹10 each.

The allotment process is expected to complete within two weeks from the last date of the payment period. Once completed, the equity shares will be credited to the respective demat accounts and made available for trading on stock exchanges. Holders must ensure payments are made from their own bank accounts, as third-party payments are liable to rejection.

Quint Digital Media Limited reported a standalone net loss of ₹651.40 lakh for the quarter ended September 30, 2026 (Q2FY27), compared to a profit of ₹80.86 lakh in the corresponding period last year.

The swing to loss was primarily driven by a surge in finance costs, which rose to ₹486.96 lakh from ₹49.43 lakh YoY, alongside a significant increase in depreciation and amortization expenses to ₹268.45 lakh from ₹11.26 lakh. Standalone revenue from operations declined 24% YoY to ₹133.46 lakh.

Consolidated Performance and Adjusted Metrics

On a consolidated basis, the company showed robust top-line growth. Revenue from operations jumped 372% YoY to ₹36.78 crore (₹3,677.65 lakh), up from ₹779.43 lakh in Q2FY26. However, the consolidated bottom line remained negative under statutory reporting, with a net loss of ₹286.12 lakh versus a marginal loss of ₹4.36 lakh in the previous year.

The company highlighted an Adjusted Profit Before Tax (PBT) of ₹5.67 crore for Q2FY27. This adjusted figure accounts for interest costs and non-cash expenses such as depreciation and stock option charges, as well as one-time pre-operating expenses of ₹1.43 crore related to the launch of Time Out Media and Time Out Markets.

The expansion in consolidated revenue is attributed to the consolidation of Quintype Technologies Inc and its subsidiary following the acquisition of majority control effective October 1, 2025.

Strategic Milestones and Capital Raise

Quint Digital successfully raised ₹90.87 crore through a Rights Issue, which was fully subscribed by public shareholders with bids aggregating 1.09x the issue size. The company stated this capital raise supports future business operations.

Key strategic developments include:

• Time Out Market Delhi: India’s first Time Out Market remains on track for launch at Worldmark Aerocity, New Delhi, in December 2026. The destination will feature 11 curated culinary concepts, two signature bars, and live entertainment.
• Culinary Partnerships: Six strategic culinary partnerships have been secured, including Chard, Mizu, Bhawan, Delhi Food Walks, and Levonne.
• Lee Enterprises: The company maintains a strong conviction in its investment in Lee Enterprises, viewing it as an important strategic lever within its Media-Tech portfolio.

Key Financial Metrics

What the Numbers Show

A divergence exists between standalone operational performance and consolidated growth metrics. While standalone revenue contracted due to the shift of operations to subsidiaries, consolidated revenue grew significantly, driven largely by Quintype’s media-tech operations which contributed ₹34.3 crore in Q2FY27.

Finance costs increased nearly tenfold YoY, reflecting the impact of new borrowings used for capital expenditure and investments. Capital work-in-progress surged to ₹1,452.23 lakh as of September 30, 2026, from ₹14.46 lakh at March 31, 2026, indicating heavy ongoing investment in the Time Out Market project. This asset build-up, coupled with rising debt levels, has pressured short-term statutory profitability despite strong consolidated revenue growth and positive adjusted operating metrics.