Vega Jewellers Seeks Reclassification of Promoter Mallinath Madineni to Public Category

1 min read Updated on 28 Nov 2025, 07:12 PM

Reviewed by

Jubin VScanX News Team

Overview

Vega Jewellers Limited has applied to the Bombay Stock Exchange for the reclassification of promoter Mallinath Madineni from 'Promoter/Promoter Group' to 'Public' category. The application, submitted on November 28, 2025, is in line with SEBI regulations. Madineni holds 6,986 shares, representing 0.07% of the company. This move, if approved, could impact the company's ownership structure.

*this image is generated using AI for illustrative purposes only.

Vega Jewellers Limited has initiated a significant change in its shareholding structure by applying to the Bombay Stock Exchange (BSE) for the reclassification of one of its promoters, Mallinath Madineni.

Reclassification Details

The company has submitted an application to BSE on November 28, 2025, requesting the reclassification of Mallinath Madineni from the 'Promoter/Promoter Group' category to the 'Public' category. This move is in accordance with Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shareholding Impact

The reclassification, if approved, will affect the company's shareholding structure as follows:

Shareholder	Current Category	Proposed Category	Shares Held	Percentage Holding
Mallinath Madineni	Promoter/Promoter Group	Public	6,986	0.07%

Regulatory Compliance

The application for reclassification has been made under Regulation 31A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation allows for the reclassification of the status of any person as a promoter or public shareholder, subject to specified conditions and procedures.

Company Background

Vega Jewellers Limited, formerly known as PH Trading Limited, is listed on the BSE with the scrip code 512026. The company's registered office is located at One Lodha Place, 14th Floor, Unit 1403, Senapati Bapat Marg, Lower Parel, Deliste Road, Mumbai, Maharashtra, India, 400013.

This reclassification, if approved by the BSE and SEBI, may alter the composition of Vega Jewellers' promoter group. Shareholders and investors should note that this change could have implications for the company's ownership structure.

Historical Stock Returns for Vega Jewellers

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-100.00%	0.0%	-100.00%	-100.00%	-100.00%	-100.00%

Vega Jewellers

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Vega Jewellers Allots 5 Lakh Equity Shares Through Warrant Conversion Worth Rs 7.40 Cr

2 min read Updated on 20 Nov 2025, 03:24 PM

Reviewed by

Shriram SScanX News Team

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Overview

Vega Jewellers Limited successfully allotted 5,00,000 equity shares through warrant conversion approved by the board on January 19, 2026. The company received Rs 7,40,32,500 as exercise price from promoters Naveen Kumar Vanama and Sudhakar Vanama, increasing paid-up capital from Rs 9.68 crores to Rs 10.18 crores in compliance with SEBI ICDR Regulations.

*this image is generated using AI for illustrative purposes only.

Vega Jewellers Limited has successfully completed the allotment of 5,00,000 equity shares following the conversion of an equal number of convertible warrants. The board of directors approved this conversion at their meeting held on January 19, 2026, receiving Rs 7,40,32,500 as the remaining exercise price from promoters.

Board Approval and Regulatory Compliance

The board meeting held on January 19, 2026, considered and approved the allotment of equity shares pursuant to warrant conversion in compliance with SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018. The conversion was executed following the company's earlier intimation regarding the preferential allotment of warrants to identified promoters.

Meeting Details:	Information
Board Meeting Date:	January 19, 2026
Regulatory Framework:	SEBI ICDR Regulations 2018
Allotment Type:	Preferential basis - private placement
Conversion Status:	Completed

Warrant Exercise and Financial Details

The company received Rs 148.07 per warrant as the remaining exercise price, representing 75% of the total warrant exercise price of Rs 197.42 per warrant. Each warrant was converted into one fully paid-up equity share with a face value of Rs 10.00, completing the conversion process initiated with the original warrant allotment.

Conversion Parameters:	Details
Warrants Converted:	5,00,000
Exercise Price per Warrant:	Rs 148.07
Total Exercise Amount:	Rs 7,40,32,500
Issue Price per Warrant:	Rs 197.42
Premium per Warrant:	Rs 187.42
Face Value per Share:	Rs 10.00

Capital Structure Enhancement

The warrant conversion has strengthened the company's capital structure, increasing the paid-up equity capital from Rs 9,67,62,980 to Rs 10,17,62,980. The total number of outstanding equity shares has risen from 96,76,298 to 1,01,76,298 shares, representing a capital increase of Rs 50,00,000.

Capital Structure Impact:	Before Conversion	After Conversion
Paid-up Capital:	Rs 9,67,62,980	Rs 10,17,62,980
Number of Equity Shares:	96,76,298	1,01,76,298
Additional Shares Issued:	-	5,00,000
Capital Increase:	-	Rs 50,00,000

Promoter Participation and Allotment Distribution

Both promoters participated equally in the warrant conversion process, demonstrating strong commitment to the company's growth trajectory. The allotment was distributed evenly between the two identified promoters.

Allottee Details:	Shares Allotted
Naveen Kumar Vanama:	2,50,000
Sudhakar Vanama:	2,50,000
Total Investors:	2

The newly allotted equity shares rank pari passu with existing equity shares of the company in all respects, providing equal rights and privileges to the warrant holders who exercised their conversion option.

Historical Stock Returns for Vega Jewellers