Allcargo Terminals Limited announced that its Board of Directors, in a meeting held on July 15, 2025, approved the issuance and allotment of up to 1.32 crore fully convertible warrants on a preferential basis to the Promoters/Promoter Group, subject to shareholder approval. These warrants will be convertible into equivalent equity shares.
Details of Convertible Warrant Issuance
Particulars
Details
Type of Securities
Fully Convertible Warrants
Type of Issuance
Preferential Allotment
Total Number of Securities
Up to 1,32,00,000
Issue Price
₹29 per warrant (including a premium of ₹27 per warrant)
Total Amount Raised
₹38.28 Crore
Details of Allottees
The warrants will be issued to the following promoters and promoter group entities:
The Shloka Shetty Trust (Shashi Kiran Shetty as Trustee): 5,93,235 warrants
Impact on Shareholding
The preferential issue will result in the following changes in the shareholding of the promoters and promoter group:
Shareholding Pattern
Name of the Allottee
Category
Pre-Issue Shares
Pre-Issue %
Post-Issue Shares
Post-Issue %
Shashi Kiran Janardhan Shetty
Promoter
14,63,58,071
58.06%
15,80,02,992
59.57%
Arathi Shetty
Promoter
73,51,353
2.92%
79,36,260
2.99%
Adarsh Sudhakar Hegde
Promoter
45,45,500
1.80%
49,07,161
1.85%
Priya Adarsh Hegde
Promoter Group
1,92,000
0.08%
2,07,276
0.08%
The Shloka Shetty Trust (Shashi Kiran Shetty as Trustee)
Promoter Group
74,56,015
2.96%
80,49,250
3.03%
Other Approvals
The Board also approved the following, subject to shareholder approval:
Alteration of Articles of Association (AOA) of the Company as per Companies Act, 2013, including clauses for nomination by securities holders, share warrants, appointment of alternate director, appointment of director in casual vacancy, nominee directors, borrowing power, and secrecy.
Increase in Authorized Share Capital and Alteration of the Capital Clause of the Memorandum of Association (MOA) of the Company, increasing the authorized share capital from ₹55 Crore to ₹70 Crore.
Details of Alteration of Articles of Association (AOA)
The alteration of the AOA includes insertion of new clauses and amendments to existing clauses:
Insertion Clauses: Nomination by Securities Holders (Clause 9), Share Warrants (Clause 39), Appointment of Alternate Director (Clause 67), Appointment of Director in Casual Vacancy (Clause 68), Nominee Directors (Clause 69), Borrowing Power (Clause 93), and Secrecy (Clause 94).
Amended Clauses: Board of Directors (Clause 66) and Share Capital and variation of Rights (Article II- Clause 1).
Deletion Clause: Common Seal (Article 1 Clause 1(b) and Article 2 Clause 81).
Changes in Memorandum of Association (MOA)
The authorized share capital of the company will be increased from ₹55,00,00,000 (Rupees Fifty-Five Crores Only) divided into 27,50,00,000 (Twenty-Seven Crores Fifty Lakhs) Equity Shares of ₹2/- (Rupees Two Only) each to ₹70,00,00,000 (Rupees Seventy Crores Only) divided into 35,00,00,000 (Thirty Five Crores) Equity Shares of ₹2/- (Rupees Two Only) each.
Meeting Conclusion
The board meeting commenced at 11:00 a.m. and concluded at 12:30 p.m. (IST) on July 15, 2025.
