NITCO Limited Promoter Increases Stake to 11.53% Through Warrant Conversion
NITCO Limited has informed the stock exchanges about an increase in promoter shareholding following the conversion of convertible warrants into equity shares. The disclosure was made under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, detailing the acquisition by a promoter group member through a preferential allotment.
The transaction resulted in a significant increase in the promoter’s ownership in the company and reflects continued confidence in NITCO’s long-term growth prospects.
Key Details of the Transaction
Promoter Vivek Prannath Salvi acquired additional equity shares pursuant to the conversion of previously allotted convertible warrants.
The transaction details are as follows:
- Promoter: Vivek Prannath Salvi
- Category: Promoter Group
- Mode of Acquisition: Preferential allotment upon conversion of convertible warrants
- Equity Shares Acquired: 65,04,065 shares
- Transaction Value: ₹45 crore
- Date of Allotment: July 23, 2026
- Date of Disclosure: July 24, 2026
Shareholding Before and After the Transaction
Following the warrant conversion, the promoter’s stake increased substantially.
| Particulars | Before Conversion | After Conversion |
|---|---|---|
| Equity Shares Held | 2,12,23,669 | 2,77,27,734 |
| Shareholding | 8.82% | 11.53% |
The transaction increased the promoter’s shareholding by 2.71 percentage points, strengthening the promoter group’s ownership in the company.
Warrant Conversion
The equity shares were allotted after the promoter paid the balance subscription amount required under the terms of the preferential warrant issue.
Convertible warrants provide investors the right to subscribe to equity shares within a specified period, subject to payment of the remaining consideration. Upon conversion, the warrants are replaced by fully paid-up equity shares.
Regulatory Disclosure
The disclosure was submitted under Regulation 7(2) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, which requires promoters, directors, and designated persons to report changes in their shareholding.
The filing was made with both:
- BSE Limited
- National Stock Exchange of India Limited (NSE)
The disclosure was signed by Kamal Absol, Chief Financial Officer of NITCO Limited.