Swastika Investmart Limited has approved the allotment of 90,50,000 convertible share warrants to promoter and non-promoter groups. The preferential allotment, valued at a total issue size of ₹57.59 crore, was sanctioned by the Preferential Allotment Committee on September 30, 2026.

The company received an upfront payment of ₹14.39 crore, representing 25% of the total warrant consideration. The remaining 75% is payable by allottees upon exercising their conversion rights within 18 months of allotment. Each warrant is convertible into one equity share with a face value of ₹2 at a price of ₹63.64 per share.

Allotment Structure and Pricing

The issuance follows approval from shareholders in an Extra-Ordinary General Meeting held on August 14, 2026, and in-principle clearance from BSE Limited. The warrants are subject to lock-in requirements under SEBI (ICDR) Regulations, 2018. If allottees fail to exercise conversion rights within the stipulated 18-month period, the warrants will lapse, and the paid consideration will be forfeited by the company.

Key Financial Details

Investor Composition

The allotment includes significant participation from the promoter group, including Sunil Nyati, Anita Nyati, Parth Nyati, and Devashish Nyati. Non-promoter entities such as Intelliguity Ventures LLP, Valueworthy Advisors LLP, and individual investors like Yogita Gandhi also participated. Yogita Gandhi’s allocation represents the largest single non-promoter block with 20,00,000 warrants.

Top Allottees by Warrant Count

What the Numbers Show

The data reveals a strategic dilution of promoter holding in exchange for capital infusion. Post-conversion, assuming full exercise of all warrants, the combined promoter group holding is projected to adjust as new shares enter the float. For instance, Sunil Nyati’s stake is expected to decline from 12.47% to 10.57%, while Anita Nyati’s moves from 12.44% to 10.55%. Conversely, non-promoter entity Yogita Gandhi’s stake rises significantly from 7.46% to 12.01%, indicating a shift in shareholding concentration towards external investors despite the overall increase in the company's equity base.

Swastika Investmart has moved to the next stage of its capital raising process, with its Preferential Allotment Committee approving the issuance of 90.5 lakh warrants on September 19, 2026. This follows the Bombay Stock Exchange’s in-principle approval granted on September 18, 2026.

The committee meeting, held pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015, authorized the issuance of warrants convertible into equity shares. The securities will be issued to promoters, promoter groups, and non-promoter/public category investors for cash consideration.

Issue Details

The proposed issue aligns with the special resolution passed by members at the Extra Ordinary General Meeting held on August 14, 2026. Each warrant carries a face value of ₹2 and is priced at not less than ₹63.64, including a premium of ₹61.64 per warrant.

Regulatory Compliance

The transaction must adhere to the Companies Act, 2013, and SEBI’s Issue of Capital and Disclosure Requirements (ICDR) Regulations, 2018. Swastika Investmart disclosed the BSE approval vide letter reference No. LOD/PREF/SS/FIP/797/2026-27 dated September 18, 2026.

The company is required to obtain undertakings from allottees confirming compliance with trading restrictions under Chapter V of the ICDR Regulations. These measures prevent intra-day trading or sales before the allotment date. Strict internal controls must be maintained to monitor trades by allottees.

Next Steps

Following the allotment, Swastika Investmart must file a listing application with the exchange within twenty days, as per Schedule XIX – Para (2) of the ICDR Regulations. The in-principle approval does not constitute final listing approval, which requires separate compliance with exchange requirements.