Urja Ships Private Limited has acquired 16,00,000 equity shares in Retaggio Industries Limited through conversion of convertible warrants, as disclosed in a regulatory filing to BSE Limited on 7th March, 2026.

Transaction Details

The acquisition was completed on 5th March, 2026, through preferential allotment of equity shares pursuant to conversion of warrants. The warrants were converted at a face value of Rs. 10 per share with a premium of Rs. 16 per warrant.

Shareholding Pattern Changes

Prior to this transaction, Urja Ships Private Limited held no equity shares in Retaggio Industries but possessed 50,04,000 convertible warrants representing 14.43% of the total diluted share capital.

Capital Structure Impact

The conversion has significantly impacted Retaggio Industries' capital structure. The company's equity share capital increased from Rs. 15,56,61,600 to Rs. 17,16,61,600 following the allotment. The total diluted share capital remains at Rs. 34,67,61,600 after the acquisition.

Warrant Conversion Features

The converted warrants had specific characteristics that governed their conversion into equity shares. Each warrant was convertible into one equity share at a 1:1 ratio, and the warrants could be exercised at any time within an 18-month period. No redemption provisions were applicable to these warrants.

Regulatory Compliance

The disclosure was made by Sandeep Kothari, Director of Urja Ships Private Limited (DIN: 08574383), in compliance with Regulation 29 of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Urja Ships Private Limited does not belong to the promoter or promoter group of Retaggio Industries Limited.

Retaggio Industries Limited has successfully completed its third tranche of equity allotment, issuing 3,02,000 equity shares through the conversion of convertible warrants. The Board of Directors approved this allotment during their meeting held on 12th March, 2026, at the company's registered office, with the meeting commencing at 10:30 a.m. and concluding at 10:45 a.m.

Board Meeting Outcome and Regulatory Framework

The warrant conversion has been executed in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, and follows the special resolution passed by shareholders on 11th December, 2025. The company received in-principle approval from BSE Limited vide letter number LOD/PREF/SS/FIP/1509/2026-27 dated 08th January, 2026.

Third Tranche Allotment Details

The latest allotment represents the conversion of 3,02,000 convertible warrants on a preferential basis to Uniworth Consultants Private Limited, the same allottee as the second tranche. As per Regulation 169(2) of the SEBI (ICDR) Regulations, 2018, 25% of the allotment price was paid at the time of subscription, with the balance 75% paid upon conversion exercise.

Updated Capital Structure Impact

Following this third allotment, the company's paid-up equity share capital has increased to Rs. 18,16,81,600.00, divided into 1,81,68,160 equity shares of face value Rs. 10.00 each. The new equity shares issued rank pari-passu with the existing equity shares, ensuring equal rights and privileges for all shareholders.

Complete Warrant Conversion Summary

Retaggio Industries has now completed three tranches of warrant conversions within a span of seven days, demonstrating strong investor confidence and successful capital expansion strategy. The combined fundraising effort has resulted in substantial capital infusion for the company's growth initiatives.