Bhatia comms & retail has completed the conversion of 1,05,00,000 warrants into equity shares, marking a significant capital restructuring exercise. The Board of Directors approved the conversion on March 09, 2026, following the receipt of balance payment from warrant holders.

Warrant Conversion Details

The conversion involved 1,05,00,000 warrants being converted into an equal number of equity shares at an issue price of Rs. 23.75 per share, including a premium of Rs. 22.75 per share. The company received Rs. 18,70,31,250 as the balance amount at the rate of Rs. 17.8125 per warrant, representing 75% of the issue price.

Allottee-wise Breakdown

The warrant conversion was distributed among five allottees, comprising both promoter group members and non-promoter investors:

Forbes EMF emerged as the largest subscriber, converting 50,00,000 warrants and receiving 3.55% stake in the company post-conversion.

Regulatory Disclosure by Garima Nikhil Bhatia

Following the warrant conversion, Garima Nikhil Bhatia has filed a disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The disclosure, dated March 11, 2026, provides detailed information about her shareholding changes.

Garima Nikhil Bhatia, identified as a promoter group member, acquired 25,00,000 shares through the warrant conversion process, increasing her voting rights from a negligible 0.00% to 1.78% of the company's total share capital.

Capital Structure Impact

Following the warrant conversion, the company's issued and paid-up capital has increased from Rs. 13,01,52,000 to Rs. 14,06,52,000, consisting of 14,06,52,000 equity shares of Re. 1 each. The newly allotted equity shares rank pari-passu with existing equity shares, providing equal rights and privileges to all shareholders.

The warrants were originally allotted on September 11, 2024, on a preferential basis under SEBI (ICDR) Regulations, 2018. Warrant holders had initially paid 25% of the issue price at Rs. 5.9375 per warrant during the initial allotment phase. With this conversion, all outstanding warrants have been fully converted into equity shares, with no warrants remaining for future conversion.

Bhatia comms & retail has disclosed a substantial acquisition of shares by promoter group member Hema Sanjeev Bhatia, who acquired 25,00,000 equity shares through warrant conversion on March 9, 2026. The transaction was executed through preferential allotment pursuant to conversion of warrants, resulting in a significant increase in her shareholding percentage.

Share Acquisition Details

The acquisition involved 25,00,000 shares carrying voting rights, representing 1.78% of the company's total share capital. This transaction was completed through preferential allotment pursuant to conversion of warrants, demonstrating the promoter group's continued commitment to the company.

Impact on Company's Share Capital

The warrant conversion resulted in an expansion of the company's equity base. The total equity share capital increased from 13,01,52,000 shares to 14,06,52,000 equity shares of Rs. 1 each following this transaction.

Regulatory Compliance

The disclosure was made in strict compliance with Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Hema Sanjeev Bhatia, identified as a promoter group member, submitted the required documentation to BSE Limited and the company on March 11, 2026.

Promoter Group Profile

Hema Sanjeev Bhatia is based in Surat, Gujarat, and holds the position of acquirer within the promoter group structure. The acquisition demonstrates the promoter group's confidence in the company's prospects and their willingness to increase their stake through available conversion opportunities.

The transaction was completed without any encumbrances, pledges, or liens on the acquired shares. No voting rights were acquired through means other than equity shares, and no additional warrants or convertible securities were involved in this particular transaction.