Emrock Corporation Limited (formerly Vaghani Techno Build Limited) has announced the successful conversion of 56,00,000 warrants into equity shares, marking a significant milestone in the company's capital structure expansion. The Board of Directors approved this conversion on December 11, 2025, during a meeting that commenced at 11:00 AM and concluded at 12:39 PM.

Warrant Conversion Details

The conversion process involved 56,00,000 warrants being converted into an equal number of equity shares with a face value of ₹10.00 each. The warrant holders paid ₹8.25 per warrant, representing 75% of the original issue price of ₹11.00 per warrant.

Allottee Categories and Distribution

The warrant conversion involved multiple categories of investors, including both promoter and non-promoter groups. The major allottees in the promoter category included Jatinkumar Tulsibhai Patel, Parth Tulsibhai Patel, and Arjunkumar Jagdishbhai Patel, who collectively converted significant portions of their warrant holdings.

The non-promoter category comprised several individual investors, including:

• Neeki Bhavinkumar Patel
• Nitabahen Hemalkumar Shah
• Krunal N Patel
• Punitaben Bharatbhai Patel
• Puravkumar Bharatbhai Patel
• Umaben Rajgiri Gosai
• Pragneshkumar Manikantbhai Joshi

Impact on Share Capital Structure

The warrant conversion has resulted in a substantial increase in the company's equity base. The issued, subscribed and paid-up equity share capital has expanded significantly following this transaction.

Pending Warrant Conversions

Despite the current conversion, a substantial number of warrants remain pending for conversion. According to the company's disclosure, 1,79,35,491 warrants are still outstanding and can be converted into equity shares upon payment of the balance 75% of the warrant amounts as per the issue price per warrant.

These pending warrants must be converted within 18 months from the original date of warrant allotment in accordance with SEBI (ICDR) Regulations, 2018. The original warrant allotment of 2,35,35,491 warrants was completed on May 10, 2025, at a price of ₹11.00 each on a preferential basis.

Regulatory Compliance and Next Steps

The newly allotted equity shares will rank pari passu with the existing equity shares of the company, subject to completion of necessary corporate actions and receipt of listing and trading approvals from the relevant stock exchanges. The company has intimated BSE Limited about this development under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This warrant conversion represents a strategic move to strengthen the company's capital base while providing existing warrant holders with the opportunity to increase their equity participation in Emrock Corporation Limited's growth trajectory.

Vaghani Techno Build , a construction technology firm, has seen significant developments in its ownership structure and business expansion. The company's Promoter Director and CFO has increased his stake, while simultaneously, the firm has made a strategic move into the hospitality sector.

Promoter Increases Stake

Parth Tulsibhai Patel, the Promoter Director and CFO of Vaghani Techno Build, has strengthened his position in the company through a substantial share acquisition. The details of this transaction are as follows:

This move represents a significant increase in the promoter's stake, potentially indicating confidence in the company's future prospects.

Expansion into Hospitality Sector

In a separate but equally noteworthy development, Vaghani Techno Build has announced its entry into the hospitality business. The company has incorporated a new Limited Liability Partnership (LLP) named "EMROCK SIGNATURE HOSPITALITY LLP". Key points of this expansion include:

The new LLP aims to establish and manage various hospitality ventures, including hotels, resorts, restaurants, and event management services. This diversification could potentially open new revenue streams for Vaghani Techno Build.

Implications and Outlook

These developments suggest a two-pronged strategy by Vaghani Techno Build:

1. Strengthening core ownership through increased promoter stake
2. Diversifying business operations by entering the hospitality sector

While the increased promoter stake may be seen as a vote of confidence in the company's future, the expansion into hospitality represents a significant departure from the firm's core construction technology business. Investors and market watchers will likely be keen to observe how this diversification strategy unfolds and impacts the company's overall performance in the coming quarters.