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.

Gujarat Natural Resources Limited (GNRL) has completed a significant capital raise and made a key addition to its board, as revealed in its latest corporate filing.

Equity Allotment Details

The company has allotted 2.5 crore equity shares at Rs 21.70 per share through the conversion of warrants by non-promoter investors. This move has resulted in a capital infusion of Rs 40.69 crore. The details of the allotment are as follows:

Impact on Share Capital

Following this conversion, GNRL's paid-up equity share capital has increased to Rs 153.40 crore, comprising 15.34 crore equity shares of Rs 10 each.

New Board Appointment

In addition to the equity allotment, GNRL has appointed Harsadsinh Bhurabha Rana as an Additional Independent Director for a term of five years, subject to shareholder approval.

About the New Director

Harsadsinh Bhurabha Rana, aged 62, brings over 25 years of experience in trading, including agro products and construction. Key points about Rana include:

• Educational background: B.Com graduate
• Expertise: Strong management and leadership skills
• Experience: Proven ability in driving business growth and operational efficiency
• Other roles: Holds directorships in other private companies

The company expects Rana's experience and strategic insight to contribute to GNRL's business decisions as an Independent Director.

Regulatory Compliance

These corporate actions were undertaken following shareholder approval at an Extra-Ordinary General Meeting held on March 26, 2025, and receipt of in-principle approval from BSE Limited on May 15, 2025. The board meeting for these decisions commenced at 2:30 PM and concluded at 2:45 PM on November 1, 2025.

Gujarat Natural Resources Limited's move to strengthen its capital base and board composition signals its commitment to growth and corporate governance.