Aequs Approves ₹650 Crore Preferential Warrant Issue

has approved a preferential issue of up to 28,071,690 warrants to Mellwood Trustee Services Private Limited, trustee of Melligeri Private Family Foundation and part of the promoter group. Each warrant will be convertible into one equity share at ₹231.55, aggregating to approximately ₹650 crore. The issue is subject to shareholder and other applicable approvals. A minimum of ₹325 crore will be payable at subscription and allotment, with the balance due upon exercise of the warrants. The warrants can be converted in one or more tranches on or before December 31, 2027. If not exercised within the specified period, the entitlement will lapse and the ₹325 crore paid at subscription will be forfeited. The investor currently holds 14.99% in Aequs. Assuming full conversion, its holding would rise to 18.40%, while promoter and promoter group shareholding would increase from 59.09% to 60.73%. The warrants will not carry voting rights until conversion into equity shares. The company has stated that the preferential issue will not result in any change in control or management. An EGM is scheduled for October 22, 2026, to seek shareholder approval. The issue price of ₹231.55 is the applicable floor price determined under SEBI ICDR Regulations. Disclosure: I do not hold any position or financial interest in the mentioned stock.