Aviva Industries Limited Allots 1.12 Crore Warrants Worth ₹31.32 Crores on Preferential Basis

Aviva Industries Limited has completed the allotment of 1,11,85,000 fully convertible equity warrants to seven non-promoter investors on January 07, 2026, raising ₹31.32 crores through preferential allotment. The board meeting held on January 07, 2026, approved the warrant allotment at an issue price of ₹28.00 per warrant, including a premium of ₹18.00 per warrant.

Warrant Allotment Details

The company allotted warrants to seven non-promoter category investors in the first tranche of the preferential issue. The allotment was conducted pursuant to a special resolution passed by members in the Annual General Meeting on September 30, 2025, and following BSE's in-principle approval granted on January 02, 2026.

Allottee Name	Category	Warrants Allotted	Post-Issue Shareholding*
Hinhor Mahesh Madubhai	Non-Promoter	16,10,000	7.06%
Pravinbhai Kashyabhai Jogari	Non-Promoter	15,95,000	7.00%
Khalifa Irfan Yusufmiya	Non-Promoter	15,85,000	6.95%
Chavdhari Navinbhai Rameshbhai	Non-Promoter	15,95,000	7.00%
Anandbhai Jankabhai Gavli	Non-Promoter	16,00,000	7.01%
Md Zahid	Non-Promoter	16,10,000	7.06%
Thakor Jitendrasinh Jashvantsinh	Non-Promoter	15,90,000	6.97%
Total		1,11,85,000

*Post-issue shareholding calculated assuming full exercise of warrants and consequent allotment of equity shares.

Conversion Terms and Compliance

Each fully convertible equity warrant can be converted into an equivalent number of fully paid-up equity shares with a face value of ₹10.00 each. The warrants carry a conversion period of 18 months from the allotment date, providing investors flexibility in timing their conversion decision.

Parameter	Details
Issue Price	₹28.00 per warrant
Premium	₹18.00 per warrant
Face Value	₹10.00 per share
Conversion Period	18 months from allotment
Total Amount Raised	₹31.32 crores

The company has received 25% of the total consideration amount from the proposed allottees as required under SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The remaining 75% will be payable upon exercise of the conversion option by the warrant holders.

Regulatory Framework

The preferential allotment was conducted in accordance with Chapter V of SEBI (ICDR) Regulations 2018, read with the Companies Act, 2013. The board meeting commenced at 6:00 PM and concluded at 6:30 PM on January 07, 2026, at the company's registered office. As the company has allotted warrants rather than equity shares, there is currently no change in the paid-up share capital of the company.

The number of equity shares to be allotted upon warrant exercise will be subject to appropriate adjustments as permitted under applicable rules, regulations, and laws. The allotment represents the first tranche of the preferential issue approved by shareholders and regulatory authorities.

Aviva Industries Limited has successfully completed the allotment of 1,01,15,000 fully convertible equity warrants to seven non-promoter investors on January 06, 2026, marking a significant capital raising initiative for the company. The warrants were issued at ₹28.00 per warrant, including a premium of ₹18.00 per warrant, generating approximately ₹28.32 crores for the company in this first tranche.

Warrant Allotment Details

The Board of Directors approved the allotment following the special resolution passed by members in the Annual General Meeting held on September 30, 2025, and subsequent in-principle approval granted by BSE on January 02, 2026. The allotment was conducted in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.

Parameter	Details
Total Warrants Allotted	1,01,15,000
Issue Price per Warrant	₹28.00
Premium per Warrant	₹18.00
Total Amount Raised	₹28.32 crores
Number of Allottees	7 investors
Allottee Category	Non-Promoter

Investor Allocation Breakdown

The warrants have been distributed among seven non-promoter investors, with allocations ranging from 4.90 lakh to 16.20 lakh warrants per investor. The largest allocations went to Rathod Papubhai Babubhai and Rameshbhai Kukabhai Bamniya, each receiving 16,20,000 warrants.

Investor Name	Warrants Allocated	Post-Issue Shareholding*
Yogeshkumar Bamaniya	4,90,000	4.22%
Rathod Papubhai Babubhai	16,20,000	13.95%
Parmar Rajubhai Senabhai	16,00,000	13.78%
Pareshbhai Bamaniya	15,90,000	13.69%
Mavi Vijay Kanubhai	16,15,000	13.90%
Pruthviraj Jesingbhai Rathod	15,80,000	13.60%
Rameshbhai Kukabhai Bamniya	16,20,000	13.95%

*Calculated assuming full exercise of warrants and consequent allotment of equity shares

Conversion Terms and Timeline

Each fully convertible equity warrant can be converted into equivalent fully paid-up equity shares with a face value of ₹10.00 each. The conversion option is available to warrant holders within a maximum period of 18 months from the allotment date of January 06, 2026. The company has received 25% of the consideration amount upfront from the proposed allottees, as mandated under SEBI regulations, with the remaining 75% payable upon exercise of the conversion option.

Regulatory Compliance and Impact

The warrant allotment was conducted under the preferential allotment framework in accordance with Chapter V of SEBI (ICDR) Regulation 2018 and the Companies Act, 2013. As these are warrants and not direct equity shares, there is currently no change in the company's paid-up share capital. The Board meeting to approve the allotment was held on January 06, 2026, commencing at 4:00 PM and concluding at 4:30 PM at the company's registered office.