RDB Infrastructure & Power Limited has completed the conversion of 56,25,000 warrants into equivalent equity shares on February 25, 2026, marking a significant capital restructuring milestone. The Board of Directors approved the conversion through a circular resolution, following receipt of the balance warrant exercise amount from the allottee.

Warrant Conversion Details

The conversion involved warrants originally allotted on November 27, 2024, to the Non-Promoter Category on a preferential basis. The company received Rs. 17,08,59,375 as the balance amount, representing 75% of the issue price at Rs. 40.5 per warrant.

Capital Structure Impact

Following the warrant conversion, RDB Infrastructure and Power Limited's capital structure has been significantly enhanced. The issued and paid-up capital increased to Rs. 21,00,09,000, consisting of 21,00,09,000 equity shares of Re. 1 each.

Warrant Exercise Process

The warrant conversion followed a structured two-stage payment process. Initially, warrant holders paid 25% of the issue price at Rs. 10.125 per warrant during the original allotment. The recent conversion required payment of the remaining 75% at Rs. 30.375 per warrant, completing the exercise process.

Regulatory Compliance

The conversion was executed in accordance with SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and reported under Regulation 30 of SEBI Listing Regulations. The company provided comprehensive disclosures as required by SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Share Subdivision Context

The warrant numbers reflect the impact of a share subdivision undertaken by the company, where each equity share of Rs. 10 face value was subdivided into 10 shares of Re. 1 face value each, effective February 28, 2025. This subdivision proportionally increased the number of warrants and adjusted their issue price accordingly.

RDB Infrastructure & Power Limited has filed its quarterly monitoring agency report for Q3FY26, demonstrating compliance with regulatory requirements for fund utilization from its preferential share warrants issue. The report, prepared by Acuité Ratings and Research Limited and reviewed by the company's Audit Committee and Board of Directors, confirms no deviations from the stated objects of the issue.

Fund Utilization Overview

The company raised funds through a preferential issue of share warrants with a total issue size of INR 277.93 crores during November 13-27, 2024. As of December 31, 2025, the company has received INR 198.10 crores and utilized INR 159.86 crores across various business objectives.

Object-wise Fund Deployment

The monitoring agency report provides detailed breakdowns of fund utilization across five primary objectives:

The company has fully utilized funds allocated for debt repayment (INR 75.00 crores) and general corporate purposes (INR 2.93 crores). Significant progress has been made in land acquisition for capital expenditure requirements, with INR 47.17 crores utilized out of the allocated INR 50.00 crores.

Deployment of Unutilized Proceeds

The unutilized amount of INR 38.24 crores has been strategically deployed to generate returns while maintaining liquidity. The company has provided unsecured loans to various entities and invested in fixed deposits:

These investments have generated total earnings of INR 2.99 crores, bringing the market value of unutilized proceeds to INR 41.23 crores.

Regulatory Compliance and Monitoring

Acuité Ratings and Research Limited, serving as the monitoring agency, has confirmed that all fund utilization aligns with the objects disclosed in the offer document. The report indicates no material deviations, changes in financing means, or unfavorable events affecting project viability. The monitoring process involved reviewing bank statements, invoices, fixed deposit certificates, and statutory auditor certificates to ensure accuracy and compliance.

The company operates in the residential and commercial projects/realty sector under the leadership of promoter Mr. Vinod Dugar. This quarterly monitoring report fulfills requirements under Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and demonstrates the company's commitment to transparent fund utilization practices.