WS Industries (India) Limited has disclosed that promoter S. Aravindan acquired additional equity shares through open market transactions, as per regulatory filing submitted to BSE Limited and National Stock Exchange of India Limited. The acquisition was completed over two trading sessions and represents a marginal increase in the promoter's shareholding in the company.

Transaction Details

The share acquisition took place on March 17, 2026 and March 18, 2026 through open market purchases. S. Aravindan acquired a total of 31,300 equity shares, representing 0.041% of the company's total voting capital.

Shareholding Pattern Changes

Following the acquisition, S. Aravindan's shareholding in WS Industries has increased marginally. The promoter's total holding now includes both equity shares and warrants/convertible securities.

Company Share Capital Structure

The company's equity share capital structure remained unchanged following this transaction. WS Industries maintains its existing capital base with no dilution from the promoter's open market acquisition.

Regulatory Compliance

The disclosure was made in compliance with Regulation 29(2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to both BSE Limited (Scrip Code: 504220) and National Stock Exchange of India Limited (Symbol: WSI) on March 19, 2026.

S. Aravindan, identified as a promoter of WS Industries, completed the regulatory disclosure requirements within the stipulated timeframe. The acquisition represents a routine open market transaction that marginally increases the promoter's stake in the company while maintaining the existing share capital structure.

WS Industries (India) Limited has completed its warrant conversion process with the allotment of 33,444 equity shares while forfeiting a substantial ₹6.97 crore from unexercised warrants. The Allotment Committee of the Board of Directors approved these actions at its meeting held on 4th March 2026, marking the conclusion of the 18-month warrant exercise period that began in September 2024.

Warrant Conversion and Allotment Details

The committee approved the conversion of 33,444 convertible warrants into fully paid-up equity shares after receiving the balance 75% of the issue price from Mamatha P, a promoter group warrant holder. The conversion was executed at the predetermined issue price of ₹149.50 per share, comprising a face value of ₹10 and premium of ₹139.50.

Significant Warrant Forfeiture

Out of the 18,99,666 warrants that remained outstanding as of the conversion deadline, only 33,444 were exercised. The remaining 18,66,222 warrants were not exercised within the stipulated 18-month period from the allotment date, leading to their automatic forfeiture under Regulation 169 of the SEBI ICDR Regulations.

The forfeited amount represents the 25% upfront subscription money that was collected at the time of initial warrant allotment, which the company now retains as per the terms of issuance.

Major Forfeited Holdings

The largest forfeited holding belonged to Maneesh Parmar with 9,36,456 warrants, followed by Infinity Value Investments Ltd with 3,34,448 warrants and Kamlesh Jain with 2,67,558 warrants. Other significant forfeitures included Bhawarlal Jain (1,33,780 warrants), Mariappan Saravanaguru and Manimaran (66,890 warrants each).

Regulatory Background and Timeline

The warrant issuance process began with shareholder approval at an Extra-Ordinary General Meeting held on 2nd May 2024, where members approved the issuance of 27,15,722 convertible warrants. The company received in-principle approvals from BSE Limited on 20th August 2024 and National Stock Exchange of India Limited on 21st August 2024.

The Allotment Committee meeting commenced at 6:15 pm and concluded at 6:24 pm on 4th March 2026, with the necessary regulatory disclosures submitted to both stock exchanges as required under SEBI regulations and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.