Aveer Foods Limited has successfully completed the warrant conversion process, with the board of directors approving the allotment of 2,26,087 equity shares to promoter Mr. Vishal Rajkumar Chordia on March 11, 2026. The board meeting concluded with the conversion of warrants originally issued on preferential basis, marking the complete exercise of warrants allocated to the promoter.

Board Meeting Outcome

The board meeting held on March 11, 2026, from 11:45 AM to 12:04 PM IST, approved the allotment of fully paid-up equity shares pursuant to warrant conversion. The company communicated the outcome through official letter AFL/SEC/BSE/176/2025-2026 to BSE Limited under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Capital Structure Impact

The warrant conversion has resulted in a significant increase in the company's paid-up capital. The allotment represents the complete exercise of warrants that were originally issued on March 20, 2025, on preferential basis to promoter category persons. The paid-up capital has increased by Rs. 22,60,870.00 following this conversion.

Warrant Conversion Details

The conversion relates to warrants issued on March 20, 2025, with a total original allotment of 4,52,174 warrants to promoter category persons. The current conversion represents the complete exercise of all remaining warrants by Mr. Vishal Rajkumar Chordia within the 18-month conversion period, leaving no balance warrants outstanding.

Regulatory Compliance

The allotment has been completed pursuant to Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company provided comprehensive disclosures as required under SEBI Master Circular dated January 30, 2026, covering all aspects of the preferential allotment process including detailed annexures with conversion outcomes.

The communication was signed by Tejashree Wagholikar, Company Secretary & Compliance Officer, confirming the successful completion of the warrant conversion process. The allotment was made to one investor, representing the complete conversion of warrants allocated to the promoter category.

Aveer Foods Limited's promoter Rajkumar Hukmichand Chordia has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, following his acquisition of 2,26,087 equity shares through warrant conversion. The disclosure was submitted to BSE Limited on February 10, 2026, providing detailed information about the shareholding changes and regulatory compliance requirements.

Financial Performance for Q3FY26

The company reported mixed financial performance for the third quarter of FY26. Revenue from operations stood at ₹3,592.95 lakhs, showing growth from ₹2,743.65 lakhs in the corresponding quarter of the previous year. However, this represented a decline from the previous quarter's revenue of ₹3,807.56 lakhs.

The company's net profit for Q3FY26 was ₹77.98 lakhs, slightly lower than ₹82.25 lakhs recorded in Q3FY25. The quarter included an exceptional item of ₹50.09 lakhs related to incremental impact arising from the implementation of new Labour Codes, particularly affecting gratuity calculations due to changes in the definition of wages.

Nine Months Performance

For the nine months ended December 31, 2025, Aveer Foods demonstrated strong overall performance. Revenue from operations reached ₹10,801.52 lakhs compared to ₹8,162.89 lakhs in the corresponding period of the previous year, representing significant growth.

Warrant Conversion and Share Allotment

The company completed the allotment of 2,26,087 fully paid-up equity shares upon exercise of warrants by Mr. Rajkumar Hukmichand Chordia, a person belonging to the promoter category. The conversion was completed on February 6, 2026, under Regulation 30 of SEBI Listing Regulations, 2015.

This allotment increased the company's paid-up capital from ₹4,02,82,520 to ₹4,25,43,390. The warrants were originally allotted on March 20, 2025, with a conversion period of 18 months. Following this conversion, 2,26,087 warrants remain outstanding from the original allotment of 4,52,174 warrants.

SAST Disclosure Filing and Documentation

Following the warrant conversion, Mr. Rajkumar Hukmichand Chordia submitted a comprehensive disclosure to BSE Limited on February 10, 2026, under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure was digitally signed and submitted through hand delivery and email to the Department of Corporate Services at BSE.

The disclosure included detailed shareholding patterns before and after the acquisition, with Mr. Vishal Rajkumar Chordia identified as a Person Acting in Concert (PAC). Both promoters digitally signed the disclosure document, ensuring compliance with regulatory requirements.

Shareholding Pattern Changes

The SAST disclosure revealed significant changes in the promoter group's shareholding pattern following the warrant conversion. The acquisition resulted in an increase in Mr. Rajkumar Hukmichand Chordia's individual holding and the combined promoter group stake.

The promoter group's combined shareholding increased from 52.65% to 55.17% of the total voting capital. Mr. Vishal Rajkumar Chordia continues to hold 2,26,087 outstanding warrants that can be exercised within the stipulated conversion period.

Capital Structure and Outstanding Securities

The warrant conversion resulted in changes to the company's capital structure, with the paid-up equity capital increasing and the number of outstanding convertible securities decreasing accordingly.

The company confirmed no deviation or variation in the use of funds raised through the preferential issue dated March 20, 2025. The SAST disclosure ensures transparency in shareholding changes and compliance with regulatory requirements for substantial acquisitions by promoter entities.