Hubtown Limited , a prominent real estate company, has seen a significant increase in promoter shareholding following a recent warrant conversion. Two key promoters, Falguni V. Shah and Kunjal H. Shah, converted a portion of their warrants into equity shares, strengthening their stake in the company.

Promoter Acquisitions

Falguni V. Shah's Acquisition

Falguni V. Shah, a member of the promoter group, acquired 1,581,747 shares through warrant conversion, representing 1.15% of the total share capital. This move increased Shah's personal holdings from 1.59% to 2.71% of the company's total share capital.

Kunjal H. Shah's Stake Increase

Similarly, Kunjal H. Shah, another promoter, converted warrants to acquire 954,570 shares, equivalent to 0.69% of the total share capital. As a result, Kunjal H. Shah's shareholding in Hubtown Limited rose from 2.36% to 3.03%.

Impact on Promoter Group Holding

The combined effect of these transactions has led to a notable increase in the promoter group's overall stake in Hubtown Limited. The promoter group's total holding now stands at 33.34% of the company's share capital, up from their previous position.

Warrant Conversion Details

These acquisitions are part of a larger warrant conversion program initiated by Hubtown Limited. The company had originally issued 12.5 million warrants to members of the promoter group. With this recent conversion, a total of 8,786,317 warrants have been converted into equity shares, leaving 3,713,683 warrants still available for future conversion.

Updated Share Capital Structure

Following these transactions, Hubtown Limited's equity share capital structure has been updated:

Diluted Share Capital

The total diluted share capital of Hubtown Limited after this acquisition stands at 142,100,657 shares, accounting for the potential conversion of remaining warrants and other convertible securities.

This strategic move by the promoters to increase their stake through warrant conversion demonstrates their confidence in Hubtown Limited's future prospects and their commitment to the company's growth trajectory in the real estate sector.

Hubtown Limited , a prominent real estate developer, has withdrawn its proposed ₹500.59 crore preferential share issue after receiving in-principle approval from both BSE and NSE. The company cited investor unwillingness to participate due to current market conditions marked by uncertainties and volatility.

Timeline of Key Events

The preferential issue had progressed through several regulatory milestones before its withdrawal:

Proposed Issue Structure

The withdrawn preferential issue was structured to raise ₹500.59 crore through the allotment of 1.47 crore equity shares at ₹341 per share to 101 private investors. The funds were intended for multiple corporate purposes:

Reasons for Withdrawal

According to the company's communication to stock exchanges, the proposed investors expressed unwillingness to participate in the preferential issue. Key factors contributing to this decision included:

• Current market conditions characterized by uncertainties and volatility
• Substantial time passage since the initial board consideration
• Regulatory requirement to complete allotment within 15 days of receiving in-principle approval

Impact Assessment

Hubtown Limited has assured stakeholders that the withdrawal will not have any material impact on the company's business operations or financial stability. The company indicated it may explore alternative avenues for capital raising as required for business needs.

Future Capital Raising Plans

While the current preferential issue has been withdrawn, the company has committed to keeping stakeholders informed about any future capital raising developments. The withdrawal comes at a time when market conditions have made equity fundraising challenging for many companies in the real estate sector.