News ArticleKross Limited Raises Rs. 31.8 Crore via Preferential Issue of Equity Shares and Warrants at Rs. 212 Each
Company issues 15 lakh equity shares to non-promoters and 15 lakh fully convertible warrants to promoters, increasing paid-up capital to Rs. 33.00 crore
Kross Limited approved the allotment of 15 lakh equity shares and 15 lakh fully convertible warrants at Rs. 212 each, raising a total of Rs. 63.6 crore on a preferential basis. The equity shares worth Rs. 31.8 crore were allotted to non-promoters, and warrants were subscribed by promoters with upfront payment of Rs. 7.95 crore. The paid-up equity capital increased to Rs. 33,00,47,110 as a result of these transactions.
Kross Limited
Preferential Issue
On October 30, 2026, Kross Limited's board approved raising Rs. 31.8 crore through the preferential allotment of 15 lakh equity shares to non-promoters and 15 lakh fully convertible warrants to promoters at an issue price of Rs. 212 per share or warrant.
The equity shares allotted to non-promoters are fully paid with a face value of Rs. 5 and include a premium of Rs. 207 per share, aggregating to Rs. 31.8 crore.
The fully convertible warrants allotted to promoters each carry the same issue price and premium, requiring an upfront payment of 25% amounting to Rs. 7.95 crore. The balance 75% is payable upon conversion within 18 months.
Post the equity share allotment, Kross Limited's paid-up equity capital rose from Rs. 32,25,47,110 to Rs. 33,00,47,110, comprising 6,60,09,422 equity shares of Rs. 5 face value each.
A new Capital Management Committee was constituted to manage approvals and allotment related to the conversion of outstanding warrants in compliance with regulations.
Highlights
- 15,00,000 equity shares allotted at Rs. 212 each to non-promoters, raising Rs. 31.8 crore.
- 15,00,000 fully convertible warrants allotted to promoters at Rs. 212 each with 25% upfront payment of Rs. 7.95 crore.
- Paid-up share capital increased to Rs. 33,00,47,110 consisting of 6,60,09,422 equity shares.
- Convertible warrants exercisable within 18 months, with no immediate change to shareholding pattern or control.
- Capital Management Committee established to oversee warrant conversion allotments.
Key Data Snapshot
What happened
- Kross Limited's board met on October 30, 2026, and approved the preferential allotment of 15 lakh equity shares and 15 lakh fully convertible warrants.
- Equity shares were allotted fully paid at Rs. 212 per share to non-promoter investors.
- Convertible warrants were allotted to promoters with 25% upfront payment and balance payable upon conversion within 18 months.
- Paid-up capital increased due to equity share allotment; however, convertible warrants have not yet caused a change in shareholding.
- A Capital Management Committee was created to oversee the allotment of shares arising from warrant conversions.
Key details
- Equity shares face value Rs. 5 each, issue price Rs. 212 including Rs. 207 premium.
- Shares allotted to four non-promoter investors: Rathore Gauravraj Singh Vijaysingh (5 lakh), Dhruv Agarwal (5 lakh), Saroj V Rathore (3 lakh), Richa Gauravraj Singh Rathore (2 lakh).
- Warrants allotted equally to promoters Sumeet Rai and Kunal Rai (7.5 lakh each).
- Upfront payment of Rs. 7.95 crore received for warrants; full conversion within 18 months required or payment forfeited.
- Post-allotment shareholding calculated on fully diluted basis with assumed warrant conversion.
Regulatory and governance context
- Transactions comply with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI ICDR Regulations, 2018.
- Preferential allotment pursuant to Chapter V of SEBI regulations and applicable companies law.
- Capital Management Committee authorized to handle future allotments from warrant conversions according to regulatory provisions.
Highlights
- 15,00,000 equity shares allotted at Rs. 212 each to non-promoters, raising Rs. 31.8 crore.
- 15,00,000 fully convertible warrants allotted to promoters at Rs. 212 each with 25% upfront payment of Rs. 7.95 crore.
- Paid-up share capital increased to Rs. 33,00,47,110 consisting of 6,60,09,422 equity shares.
- Convertible warrants exercisable within 18 months, with no immediate change to shareholding pattern or control.
- Capital Management Committee established to oversee warrant conversion allotments.
Disclosures
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- SEBI ICDR Regulations, 2018
- Companies Act, 2013
Promoters subscribed fully convertible warrants with upfront 25% payment.
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