Inter Globe Finance Limited has announced a significant corporate action, approving the allotment of 26,12,000 equity shares through the conversion of convertible warrants. This move represents a crucial step in the company's capital structure and fundraising efforts.

Key Details of the Allotment

Investor Breakdown

The allotment was made to both promoters and non-promoters, as detailed below:

Warrant Conversion History

This allotment marks the third tranche of conversions from the original 76,60,000 convertible warrants issued by InterGlobe Finance. The company's warrant conversion timeline is as follows:

• February 21, 2024: Initial issuance of 76,60,000 convertible warrants
• August 14, 2024: First tranche conversion of 21,35,000 warrants to equity shares (Non-promoters)
• October 16, 2025: Second tranche conversion of 19,95,000 warrants to equity shares (Promoters & Non-Promoters)
• November 6, 2025: Current tranche conversion of 26,12,000 warrants to equity shares

Regulatory Compliance

The allotment was made in accordance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. The company has received the necessary in-principle approval from the BSE (Approval No. LOD/PREF/AB/FIP/275/2024-25 dated May 15, 2024) for the allotment of these convertible warrants.

Next Steps

The board has authorized Managing Director Navin Jain (DIN: 01197626) and/or the Company Secretary to file the necessary application with the BSE for listing of the newly allotted shares and to complete other required formalities with the Ministry of Corporate Affairs (MCA).

This equity share allotment through warrant conversion demonstrates InterGlobe Finance's ongoing efforts to strengthen its capital base and potentially fund future growth initiatives.

Inter Globe Finance Limited (IGFL) has successfully completed a significant corporate action, allotting 19.95 lakh equity shares to promoters and non-promoters on a preferential basis. This move, approved by the company's board, marks a crucial step in IGFL's capital raising efforts.

Key Details of the Allotment

The allotment process, which follows the BSE's in-principle approval dated May 15, 2024, involves the following key aspects:

• Issue Price: Rs. 46.50 per share
• Face Value: Rs. 10 per share
• Total Shares Allotted: 19,95,000
• Total Amount Raised: Rs. 6,95,75,625

Allotment Breakdown

The shares were allotted to a mix of promoters and non-promoters. Here's a detailed breakdown of the allotment:

Background and Context

This allotment is part of a larger issuance of convertible warrants approved by the BSE. The company had initially received approval for issuing 76,60,000 convertible warrants, of which this allotment represents a significant portion.

Management Action

The board has authorized Managing Director Navin Jain to file necessary applications with the BSE for listing these newly allotted shares. This step is crucial for integrating the new shares into the company's publicly traded stock.

Implications for Investors

This preferential allotment may have several implications for Inter Globe Finance Limited and its stakeholders:

1. Capital Infusion: The company has raised substantial capital, which could be used for various corporate purposes, potentially strengthening its financial position.

2. Ownership Structure: The allotment, primarily to promoters, may lead to an increase in promoter holding, potentially affecting the company's ownership structure.

3. Market Perception: Such capital raising activities often signal confidence in the company's future prospects, which may influence market perception.

Investors and market participants should closely monitor how Inter Globe Finance Limited utilizes this capital infusion and its impact on the company's financial performance and strategic direction in the coming quarters.