Aequs allots 2.81 crore warrants to promoter trust at ₹231.55 each
- Capital raise
Reviewed byRachit TripathiBlacklitt Research
Aequs (NSE: AEQUS) has allotted 28,071,690 warrants convertible into equity shares on a preferential basis at ₹231.55 each, aggregating ₹650 crore to one allottee, Mellwood Trustee Services, it said in a filing on 05 Nov 2026. The allottee is a trustee of a family foundation that is a promoter of the company.
Key highlights
- Warrants allotted: 28,071,690 at ₹231.55 each
- Aggregate issue amount: ₹650.00 crore
- Received on allotment: ₹325.01 crore, not less than 50% upfront
- Balance due on exercise on or before 31 Dec 2027
The warrant allotment in numbers
| Item | Detail |
|---|---|
| Allottee | Mellwood Trustee Services Private Limited (Trustee of Melligeri Private Family Foundation), a promoter |
| Warrants allotted | 28,071,690, each convertible into one equity share of INR 10 face value |
| Issue price | ₹231.55 per warrant, including a premium of ₹221.55 |
| Aggregate issue amount | ₹650.00 crore |
| Received on allotment | ₹325.01 crore |
| Exercise deadline | 31 Dec 2027; unexercised amounts are forfeited |
| In-principle approvals | NSE and BSE, letters dated 03 Nov 2026 |
Terms of the warrants and the upfront payment
The filing says that not less than 50% of the warrant issue price was payable at subscription, with the remaining amount payable by the warrant holder on exercise on or before 31 Dec 2027. The total subscription amount received on allotment is ₹325.01 crore, against the aggregate issue amount of ₹650.00 crore.
The warrants do not carry voting rights and do not form part of paid-up capital until conversion. The warrants remain unlisted, and the equity shares allotted on conversion will rank pari passu with existing shares once listed on NSE and BSE.
Effect on share count and promoter stake
Paid-up equity share capital stays at ₹6,706,656,350 divided into 670,665,635 shares until conversion. On full conversion it would rise to ₹6,987,373,250 divided into 698,737,325 shares.
Mellwood Trustee Services held 100,513,070 shares, or 14.99%, before the issue. On full exercise and conversion it would hold 128,584,760 shares, or 18.40%, according to the filing. The company's market value was ₹14,932 crore at the 05 Nov 2026 close of ₹222.64 a share, and the company reported a Q2 FY27 consolidated net loss of ₹52.39 crore in its 26 Oct 2026 results.
What the warrant allotment means for Aequs shareholders
Existing shareholders' holding is not diluted until the warrants are converted, and the warrants carry no voting rights. If all warrants are exercised, the share count rises by about 28.07 million shares, about 4.2% of the current count.
The filing does not say what the proceeds will be used for, why the issue was made, or whether Mellwood Trustee Services will exercise the warrants. The balance payment timing before 31 Dec 2027 is also not stated. The next dated step is the exercise deadline of 31 Dec 2027.
Filed with NSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.