Vaxfab Enterprises Limited, in a Board of Directors meeting held on May 11, 2026, approved the allotment of 19,50,348 equity shares of face value ₹10/- each at a price of ₹21.02/- per share, upon conversion of outstanding equity share warrants into fully paid-up equity shares on a preferential basis. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Schedule III of the said Regulations. The board meeting commenced at 9.00 A.M. and concluded at 9.20 A.M.

Allotment Details

The equity shares were allotted upon exercise of outstanding equity share warrants, which had originally been issued by way of a preferential allotment. Each warrant carried the right to subscribe to one equity share per warrant at a total exercise price of ₹21.02/-, comprising ₹5.255/- paid at the time of allotment of warrants and ₹15.765/- payable at the time of conversion into equity shares. The allotted equity shares rank pari-passu in all respects with the existing equity shares of the company. The tenure of the warrants did not exceed 18 months from the date of their allotment.

The following table summarises the key parameters of this allotment:

Impact on Share Capital

Consequent to this allotment, the paid-up equity share capital of Vaxfab Enterprises increased to ₹25,46,89,250/- (Rupees Twenty-five crore forty-six lakh eighty-nine thousand two hundred fifty only), comprising 2,54,68,925 equity shares of face value ₹10/- each.

Investor-Wise Allotment Breakdown

The 19,50,348 equity shares were allotted to six investors upon conversion of their respective warrants. The warrant exercise amount was received at ₹15.765/- per warrant at the time of conversion. The table below provides a detailed investor-wise breakdown:

Regulatory Compliance

The allotment was carried out in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The requisite disclosures have been submitted to BSE Limited and The Calcutta Stock Exchange Limited. The allotment was approved and signed by Ravindra Ashokbhai Joshi, Managing Director (DIN: 10112296).

Vaxfab enterprises Limited has successfully completed the allotment of 13,28,861 equity shares following the conversion of warrants by investors. The board of directors approved this allotment during their meeting held on April 17, 2026, marking a significant capital expansion for the Ahmedabad-based company.

Allotment Details and Pricing Structure

The equity shares were allotted at a price of Rs. 21.02 per share, with each share carrying a face value of Rs. 10. The allotment was conducted on a preferential basis to three institutional investors who exercised their warrant conversion rights.

Investor-wise Allocation Breakdown

The warrant conversion was executed by three limited liability partnerships, with varying levels of participation in the conversion process.

Lankini Management Consultancy LLP emerged as the largest participant, converting 11,51,284 warrants while retaining 7,80,147 unconverted warrants. Sparkling Tradewing LLP fully converted all its eligible warrants, while Kushmanda Tradeline LLP retained 3 unconverted warrants.

Impact on Share Capital Structure

The warrant conversion has resulted in a substantial increase in the company's equity base. Following the allotment, Vaxfab Enterprises' paid-up equity share capital expanded to Rs. 22,20,00,270, comprising 2,22,00,027 equity shares of Rs. 10 face value each.

The newly allotted equity shares will rank pari-passu with existing equity shares, providing equal rights and privileges to the new shareholders. This expansion strengthens the company's capital foundation and provides additional financial resources for business operations.

Warrant Conversion Framework

The original warrants were issued with a conversion tenure not exceeding 18 months from the allotment date. The conversion process involved a two-stage payment structure, where investors initially paid Rs. 5.255 per warrant during the original allotment and subsequently paid Rs. 15.765 per warrant at the time of conversion to equity shares.

This successful warrant conversion demonstrates investor confidence in Vaxfab Enterprises' business prospects and provides the company with enhanced financial flexibility for future growth initiatives.