Gretex Corporate Services Limited has successfully completed the allotment of 3,30,000 equity shares through the conversion of equity warrants, as disclosed to stock exchanges on January 23, 2026. The conversion represents a significant corporate action involving promoter participation and generates substantial consideration for the company.

Warrant Conversion Details

The Board of Directors approved the allotment of equity shares with a face value of ₹10 each at an issue price of ₹379 per share, including a premium of ₹369. The conversion was executed by Talent Investment Company Private Limited, which belongs to the promoter category.

Bonus Share Entitlement

As part of the conversion process, the warrant holder became entitled to additional bonus equity shares that were previously held in abeyance. The company had earlier approved a bonus issue in the ratio of 9:10, resulting in bonus shares attributable to the warrants being credited to a demat suspense account.

Upon warrant conversion, 2,97,000 bonus equity shares were released from the suspense account and credited simultaneously to the allottee's demat account along with the newly allotted shares.

Allottee Information

The complete warrant conversion was undertaken by a single promoter entity, demonstrating continued promoter confidence in the company's prospects.

Regulatory Compliance

The allotment was conducted in full compliance with SEBI regulations, specifically under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has fulfilled all disclosure requirements as per SEBI Master Circular dated November 11, 2024.

The newly allotted equity shares rank pari passu in all respects with the existing equity shares of the company, ensuring equal rights and privileges for all shareholders. The conversion represents the exercise of options available to warrant holders under the original preferential allotment framework approved in August 2024.

Gretex Corporate Services Limited has provided detailed clarifications regarding its proposed preferential issue of equity warrants following observations raised by stock exchanges. The company filed an in-principle application for the preferential issue of 1,00,000 equity warrants with specific terms and conditions.

Issue Structure and Pricing

The proposed preferential issue involves the following key parameters:

Regulatory Compliance Clarifications

The company addressed several key regulatory aspects in response to stock exchange observations. Regarding Regulation 166A of SEBI ICDR Regulations, Gretex Corporate Services clarified that this regulation is not applicable to the present preferential issue. The company explained that the proposed allotment does not result in any change in control and does not exceed 5% of the post-issue fully diluted share capital. The reference to Regulation 166A in the Postal Ballot Notice dated December 13, 2025, was included only as a precautionary disclosure.

Fund Utilization Framework

The company provided comprehensive details about the intended use of proceeds and timeline for fund utilization:

The objects of the issue are specifically aimed at supporting the company's business operations and strategic initiatives, with proceeds being utilized towards meeting working capital requirements that form an integral part of the company's business operations and strategic objectives.

Valuation and Governance Measures

Despite the regulatory exemption, Gretex Corporate Services has voluntarily obtained a valuation report from an independent registered valuer. This step demonstrates the company's commitment to upholding good governance practices, even though the proposed allotment is below 5% of the post-issue share capital and does not mandate such valuation under applicable regulations.

The clarifications were signed by Bhavna Desai, Company Secretary and Compliance Officer, and submitted to both the National Stock Exchange Limited and BSE Limited on January 16, 2026. These clarifications aim to address all observations raised by the stock exchanges and provide transparency to shareholders regarding the preferential issue process.