NewsCorporate ActionsDarjeeling Industries Limited Allots 30.12 Lakh Equity Shares Through Warrant ConversionDarjeeling Industries Limited Allots 30.12 Lakh Equity Shares Through Warrant Conversion
Darjeeling Industries Limited successfully allotted 30,12,010 equity shares through convertible warrant conversion at ₹16.80 per share, raising ₹3.80 crores from six non-promoter investors. The conversion increased the company's paid-up capital from ₹4.85 crores to ₹7.86 crores, with total equity shares rising to 78,62,010. This represents the second tranche of conversions from a total warrant issue of 70,00,000, leaving 21,87,990 warrants still outstanding.
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Darjeeling Industries Limited has completed a significant equity expansion through the conversion of convertible warrants, allotting 30,12,010 fully paid-up equity shares to six non-promoter investors. The Board of Directors approved this allotment on January 21, 2026, marking a substantial increase in the company's equity base.
Warrant Conversion Details
The allotment involved the conversion of 30,12,010 convertible warrants at an issue price of ₹16.80 per share, comprising a face value of ₹10.00 and a premium of ₹6.80 per share. The company received ₹3,79,51,326 as the balance 75.00% of the exercise price from the warrant holders.
| Parameter: | Details |
|---|---|
| Total Shares Allotted: | 30,12,010 |
| Issue Price per Share: | ₹16.80 |
| Face Value: | ₹10.00 |
| Premium: | ₹6.80 |
| Total Amount Raised: | ₹3.80 crores |
Investor Allocation
Six non-promoter category investors participated in the warrant conversion, with varying allocation sizes. Ashok Dilipkumar Jain received the largest allocation of 7,50,600 shares, while Abhishek Prakash Jain and Punyah Sachin Jain each received 6,00,000 shares.
| Investor Name: | Shares Allotted | Amount Paid (₹) |
|---|---|---|
| Ashok Dilipkumar Jain: | 7,50,600 | 94,57,560 |
| Abhishek Prakash Jain: | 6,00,000 | 75,60,000 |
| Punyah Sachin Jain: | 6,00,000 | 75,60,000 |
| Kirti Ravi Kothari: | 5,71,410 | 71,99,766 |
| Kalidas Vijay Magar: | 2,50,000 | 31,50,000 |
| Joy Banerjee: | 2,40,000 | 30,24,000 |
Capital Structure Impact
The warrant conversion has significantly expanded Darjeeling Industries' equity capital structure. The paid-up equity share capital increased from ₹4,85,00,000 consisting of 48,50,000 equity shares to ₹7,86,20,100 consisting of 78,62,010 equity shares, representing a 62.00% increase in the share count.
| Metric: | Pre-Conversion | Post-Conversion | Change |
|---|---|---|---|
| Paid-up Capital: | ₹4.85 crores | ₹7.86 crores | +62.06% |
| Total Equity Shares: | 48,50,000 | 78,62,010 | +62.00% |
Outstanding Warrants
The current conversion is part of a larger warrant program totaling 70,00,000 convertible warrants. Previously, 18,00,000 warrants were converted in October 2025, and with the current conversion of 30,12,010 warrants, a total of 48,12,010 warrants have been exercised. This leaves 21,87,990 warrants still outstanding for potential future conversion.
Regulatory Compliance
The allotment was conducted in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the company has fulfilled all disclosure requirements under Regulation 30 of SEBI (LODR) Regulations, 2015. The newly allotted equity shares will rank pari passu with existing equity shares in all respects, and the company will apply for listing and trading of these shares on the stock exchange.
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