Vipul Ltd Share Price Fall 4.97% After Company Allots 8.89 Crore Warrants At ₹9.20 Each

Vipul Ltd approved the allotment of 8,89,00,000 fully convertible warrants at ₹9.20 per warrant after receiving 25% of the subscription money from allottees, triggering equity dilution and weighing on the stock.

Preferential Allotment Approved Under Regulation 30 Disclosure

According to a Regulation 30 disclosure under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Preferential Issue Committee of the board of Vipul Ltd, at its meeting held on 27 February 2026, considered and approved the allotment of 8,89,00,000 fully convertible warrants on a preferential basis.

The warrants were issued at ₹9.20 per warrant, aggregating ₹81,78,80,000 in total consideration. The company confirmed receipt of 25% of the issue price upfront from allottees, in line with applicable SEBI norms governing preferential issues of convertible securities.

Under SEBI’s framework, each warrant is convertible into one equity share within a specified period typically 18 months from allotment upon payment of the remaining 75% of the issue price. Until conversion, the instruments do not form part of the paid-up equity capital but represent potential dilution.

The allotment spans promoter and public category investors. Promoter allottee Punit Beriwala received 1,24,00,000 warrants. Among public category participants, Om Aggarwal and KSJ Estates Private Limited were allotted 1,24,00,000 warrants each, while Pine Emergence LLP received 1,20,00,000 warrants. Several other individuals were allotted between 4,00,000 and 60,00,000 warrants.

Post-allotment, the un-diluted paid-up equity share capital remains ₹14,09,59,480, comprising 14,09,59,480 equity shares of face value ₹1 each. The dilution impact will materialise upon conversion of the warrants into equity shares.

The disclosure was signed by Piyush Bairagi, Company Secretary and Compliance Officer, dated 27 February 2026.

Stock Market Snapshot

As of 11:37 am IST on 27 February 2026, the stock was at ₹12.05, down ₹0.63 or 4.97% from the previous close of ₹12.68. Market capitalisation was approximately ₹169.86 crore at the time.

The issue price of ₹9.20 per warrant implies a discount to the prevailing market price, which may partly explain the immediate pressure on the counter, although conversion and therefore actual equity expansion remains contingent on future exercise.

Company Background

Vipul Ltd is engaged in real estate development, with projects spanning residential and commercial segments across select Indian markets. The company’s equity shares are listed on both BSE (Scrip Code: 511726) and NSE (Symbol: VIPULLTD).

Its 52-week trading range stands between ₹7.38 and ₹13.10, based on exchange data. The company currently reports no declared dividend and does not disclose a price-to-earnings ratio in the available exchange snapshot.

Dilution Mechanics And Capital Structure Implications

Fully convertible warrants function as deferred equity instruments. Investors commit capital upfront 25% in this case securing the right, but not the obligation, to subscribe to equity shares at a predetermined price within the conversion window.

If all 8,89,00,000 warrants are exercised, the equity base would expand materially from the current 14,09,59,480 shares, altering earnings-per-share metrics and potentially promoter shareholding percentages, depending on final conversion patterns.

Source: https://nsearchives.nseindia.com/corporate/VIPULLTD_27022026100804_Outcometofilesigned.pdf