Black Box Limited has successfully completed the allotment of 6,46,674 equity shares through warrant conversion, raising Rs. 26,96,63,058 from three non-promoter investors. The Board approved this allotment on February 28, 2026, following the receipt of balance subscription amounts from warrant holders who exercised their conversion rights.

Warrant Conversion Details

The conversion involved warrants originally allotted on September 27, 2024, at an issue price of Rs. 417 per warrant to 25 allottees. These convertible warrants carried the right to convert into equity shares of face value Rs. 2 each at a premium of Rs. 415 per share within 18 months from the allotment date.

Allottee-wise Conversion Breakdown

Three non-promoter investors exercised their conversion rights, with varying degrees of warrant utilization:

Excello Fin Lea Limited converted all its warrants, while Ushma Mehta converted only a portion of her holdings, retaining the majority for potential future conversion.

Financial Impact and Capital Structure

The warrant conversion resulted in a significant increase in the company's paid-up capital:

Shareholding Changes

The allotment resulted in notable changes to the shareholding pattern of the allottees:

Excello Fin Lea Limited emerged as a new shareholder with a 0.35% stake, while Ushma Mehta's holding increased marginally from 0.42% to 0.44%.

Outstanding Warrants

Following this conversion, 63,57,859 warrants remain outstanding and available for conversion by other warrant holders within the stipulated timeframe. The newly allotted shares rank pari passu with existing equity shares, carrying equal rights and privileges. The company has fulfilled all regulatory disclosure requirements under SEBI (LODR) Regulations, 2015, ensuring transparency in the warrant conversion process.

Black Box Limited has issued an official clarification under Regulation 30 of SEBI regulations to address and deny circulating rumors about promoter shareholding changes. The company's response comes in light of social media messages purportedly quoting reputed media channels regarding the promoters' intentions.

Official Denial of Market Rumors

The company has categorically clarified that claims about promoters intending to sell a large part of their shareholding are absolutely untrue. Black Box Limited emphasized that there is no truth whatsoever in any claims regarding changes in promoter holding of any kind. The management described these allegations as entirely baseless and without merit.

Previous Fundraising Activities

The company referenced its previously disclosed fundraising activities to provide context about actual promoter participation. In 2024, Black Box Limited conducted a Preferential Issue of Compulsorily Convertible Warrants for an aggregate amount of Rs. 386.36 Crores. Notably, the promoters actively participated in this issuance, subscribing to 51.76% of the total issue, demonstrating their continued commitment to the company.

Regulatory Compliance and Corporate Governance

Black Box Limited reaffirmed its commitment to maintaining the highest standards of corporate governance and regulatory compliance. The company stated that it has complied with and continues to comply with relevant disclosure norms under the Listing Regulations. Management assured stakeholders that they will continue to inform exchanges of any material events in a timely manner as required under applicable laws.

Stakeholder Communication

The clarification was issued by Company Secretary & Compliance Officer Aditya Goswami on behalf of the company and its promoters. The communication aims to ensure that shareholders and exchanges remain accurately informed about the company's actual position regarding promoter shareholding. The company has made this information available on its official website at www.blackbox.com for broader stakeholder access.