Gujarat Natural Resources has seen a significant change in its ownership structure as JA Spaces LLP acquired a substantial stake through warrant conversion. This development, along with upcoming financial results, marks a notable shift for the company.

Stake Acquisition Details

On November 1, 2025, JA Spaces LLP converted warrants into 1.5 crore equity shares of Gujarat Natural Resources Limited, resulting in a considerable change in shareholding:

This transaction was followed by an additional acquisition by persons acting in concert (PAC):

The combined holdings after these transactions are as follows:

It's important to note that despite this significant acquisition, the acquirer group does not fall under the promoter category of Gujarat Natural Resources Limited.

Impact on Company's Share Capital

Following the allotment of new shares, Gujarat Natural Resources Limited's equity share capital has seen a substantial increase:

This increase in share capital reflects the impact of the warrant conversion and subsequent share allotment.

Upcoming Board Meeting

In a related development, Gujarat Natural Resources Limited has announced a board meeting scheduled for November 14, 2025. The meeting agenda includes:

1. Consideration and approval of Standalone and Consolidated Unaudited Financial Results for the quarter and half-year ended September 30, 2025.
2. Any other items with the chair's permission.

The company has also notified that the trading window for insiders is currently closed and will reopen 48 hours after the declaration of the financial results.

These events collectively signal a period of significant activity for Gujarat Natural Resources Limited, with potential implications for its financial standing and market position. Investors and market watchers will likely be keen to observe how these developments influence the company's performance and strategic direction in the coming months.

Gujarat Natural Resources Limited has witnessed a significant change in its shareholding pattern and capital structure following a recent warrant conversion. The company, which operates in the natural resources sector, has seen a substantial increase in its equity share capital and a notable shift in its ownership structure.

Key Developments

• Share Acquisition: Vansh Ravi Agrawal acquired 1,00,00,000 (1 crore) equity shares of Gujarat Natural Resources Limited through the conversion of warrants on November 1, 2025.

• Increased Shareholding: Following this acquisition, the combined holding of Vansh Ravi Agrawal and persons acting in concert (including Ravi Agrawal and L7 Hitech Private Limited) has increased to 3,72,65,184 shares.

• Ownership Percentage: The new shareholding represents 24.29% of the company's total voting capital, indicating a significant stake in the company.

• Share Allotment: The shares were allotted at a face value of Rs. 10 each.

Impact on Company's Capital Structure

The warrant conversion has led to notable changes in Gujarat Natural Resources' capital structure:

Note: All figures in the table are in crores

This transaction has resulted in a 19.5% increase in the company's equity share capital and total number of outstanding shares.

Implications

The substantial acquisition by Vansh Ravi Agrawal and associated parties could potentially influence the company's strategic direction and decision-making processes. Shareholders and market observers may want to monitor any subsequent changes in the company's governance or business strategies that might follow this significant shift in ownership.

It's important to note that such warrant conversions are often part of pre-planned financial arrangements and may reflect the acquirer's confidence in the company's future prospects. However, as with any significant change in ownership structure, it may be prudent for existing and potential investors to closely follow any further developments or announcements from the company.