Inter Globe Finance Limited, a company listed on BSE Limited and CSE Limited, has witnessed significant changes in its shareholding pattern. Two promoters of the company, Pramod Kumar Jain and Manju Jain, have increased their stakes through preferential allotments of shares.

Key Details of the Transactions

Impact on Shareholding

Company Share Capital

The preferential allotments have resulted in notable increases in both promoters' ownership in Inter Globe Finance Limited. Pramod Kumar Jain's shareholding has grown from 7.91% to 9.98% of the company's total share capital, representing an increase of 2.07 percentage points. Manju Jain's stake has increased more substantially, from 19.11% to 22.80%, a rise of 3.69 percentage points.

Manju Jain's acquisition represents a 7.37% increase in voting rights. Following these acquisitions, Inter Globe Finance's total equity share capital expanded from 1,09,52,295 shares to 1,35,64,295 shares.

These transactions underscore the promoters' confidence in the company's prospects and align with the practice of preferential allotments, which are often used by companies to raise capital or allow existing shareholders to increase their stakes.

Investors and market watchers may want to take note of these developments, as changes in promoter shareholding can sometimes influence market perception and the stock's performance. However, it's important to consider this information alongside other financial and operational metrics when evaluating the company's overall position.

The disclosures were filed in compliance with SEBI regulations for substantial acquisition of shares.

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.