ACI Infocom Limited Allots 8.28 Crore Warrants at ₹1.53

ACI Infocom Limited has allotted 8.28 crore fully convertible warrants on a preferential basis at ₹1.53 each, raising ₹3.17 crore as the mandatory 25% upfront payment. The holders can pay the remaining ₹9.50 crore and convert the warrants into equity shares within 18 months of allotment.

What did ACI Infocom allot on October 29, 2026?

ACI Infocom allotted 8,28,00,000 fully convertible warrants to 11 allottees under a preferential issue. Each warrant carries an issue price of ₹1.53 and can be converted into one equity share, subject to payment of the remaining subscription amount within the stipulated period.

The company received ₹3.17 crore, representing 25% of the total warrant consideration, at the time of allotment. The balance of ₹9.50 crore, or 75% of the consideration, will be payable by warrant holders when they exercise their conversion option within 18 months.

The allotment was made in line with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018. Anupam Stock Broking received 4 crore warrants, while Pushti Mandavia, Puneet Bhalla and eight other investors received the remaining warrants.

How did ACI Infocom's preferential issue unfold?

ACI Infocom's October 29 allotment followed an earlier preferential allotment approved on October 24. In that transaction, the company allotted 3.2 crore equity shares and 20.7 crore fully convertible warrants, also at ₹1.53 per security.

For the October 24 warrant allotment, the company received ₹7.92 crore as the 25% upfront amount. The holders of those 20.7 crore warrants must pay a further ₹23.75 crore if they choose to convert the instruments into equity shares within 18 months.

The October 24 issue also altered the company's shareholding structure. Sanjay Mandavia and Rupal Mandavia acquired 3.2 crore equity shares and 10 crore fully convertible warrants through preferential allotment. Their direct equity shareholding rose to 25.05% of the post-allotment paid-up equity share capital, according to the disclosed acquisition details.

The company said the acquirers would be included in its promoter and promoter group and would acquire control and management upon completion of an open offer. Credora Partners has issued a detailed public statement for an open offer to acquire up to 26% of ACI Infocom's equity share capital at ₹1.53 per share.

Why is the warrant issue significant for ACI Infocom's capital structure?

ACI Infocom had obtained shareholder approvals at its 44th annual general meeting and an extraordinary general meeting held on September 9, 2026. The resolutions covered changes to the company's objects, adoption of new articles of association, an increase in authorised share capital, and preferential issuance of shares and warrants.

The board had approved a preferential issue of up to 3.2 crore equity shares, valued at ₹4.90 crore, and up to 29.48 crore fully convertible warrants, valued at up to ₹45.10 crore, at ₹1.53 each. The allotments made on October 24 and October 29 account for the disclosed equity and warrant issuances under this capital-raising exercise.

The company reported existing paid-up capital of 14.249 crore shares before full conversion of outstanding warrants. If all outstanding warrants are converted, the paid-up capital is expected to rise to 43.229 crore shares. This reflects the potential scale of dilution associated with the instruments already allotted.

How will the warrants affect ACI Infocom shareholders and investors?

The immediate cash received from the October 29 warrant issue is ₹3.17 crore, not the full ₹12.67 crore implied by the issue price and the number of warrants allotted. The remaining amount will reach the company only if the warrant holders make the required payment and elect to convert their holdings.

For existing shareholders, conversion would increase the number of equity shares and lower the relative ownership percentage of shareholders who do not participate in the preferential issuances. The effect will depend on the actual conversion of the warrants during the 18-month exercise period.

The change in promoter-group classification and the proposed open offer are separate but related developments in the broader shift in ownership. The disclosed acquisition by Sanjay Mandavia and Rupal Mandavia increased their direct equity stake, while their holding including securities underlying warrants represented 38.82% of the fully diluted equity share capital.

What should investors watch after the allotment?

Investors will need to track warrant conversion notices and any further allotments because the conversion window runs for 18 months from each allotment date. The amount of fresh equity issued will depend on whether holders pay the balance consideration within that period.

The open offer process is another key disclosed event. Credora Partners' detailed public statement covers an offer to acquire up to 26% of ACI Infocom at ₹1.53 per share, the same price used for the preferential allotments. The completion and disclosures associated with that process will clarify the final ownership position.

ACI Infocom's stated business focus includes residential and commercial development, redevelopment projects, Slum Rehabilitation Authority projects, and construction contracts. The preferential issue provides a defined capital-raising route, while the eventual use of funds and operational outcomes will depend on future company disclosures.

Conclusion

ACI Infocom's allotment of 8.28 crore convertible warrants adds ₹3.17 crore of immediate funds and creates a potential further inflow of ₹9.50 crore if holders convert within 18 months. Combined with the October 24 allotment, the transactions materially expand the company's potential equity base and reshape its disclosed ownership structure.

The next developments to watch are warrant conversions, the resulting paid-up capital, and progress on the open offer for up to 26% of the company. The conversion deadlines and future regulatory disclosures will determine how much of the announced capital is ultimately received and how the final shareholding structure changes.