Tunwal E-Motors Board Clears INR 10.20 Crore Preferential Warrant Issue to Promoters
The warrants will be issued at INR 30 each, comprising a face value of INR 2 and a premium of INR 28. Each warrant will be convertible into one fully paid-up equity share of the company at an issue price of INR 30 per share.
September 16, 2026. By Abha Rustagi
The company's board approved the proposal at a meeting on September 4, subject to shareholder approval and other statutory and regulatory clearances.
The warrants will be issued at INR 30 each, comprising a face value of INR 2 and a premium of INR 28. Each warrant will be convertible into one fully paid-up equity share of the company at an issue price of INR 30 per share.
Investors will pay 25 percent of the issue price at the time of subscription and allotment, with the remaining 75 percent payable when the warrants are exercised. The warrants can be converted into equity shares in one or more tranches within 18 months of allotment.
Any warrants not exercised within the prescribed period will lapse, with the amount paid towards them being forfeited, the company said.
The proposed allotment includes 2.55 million warrants to Managing Director Jhumarmal Pannaram Tunwal, 340,000 warrants to Tunwal Jhumarmal P HUF, and 170,000 warrants each to Sangita Jhumarmal Tunwal, Spreta Jhumarmal Tunwal and Bhupesh Tunwal.
Upon full conversion of the warrants, the promoter and promoter group shareholding is expected to rise to 65.91 percent from 63.90 percent on a fully diluted basis.
The preferential issue will be placed before shareholders for approval at the company's eighth annual general meeting on September 29.
please contact: contact@energetica-india.net.
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