Natural Capsules allots Rs 10.01 crore to Sunil L Mundra

Natural Capsules Limited allotted securities with a stated total value of Rs 10.01 crore to promoter Sunil L Mundra on November 13, 2026, comprising Rs 2.00 crore of equity shares and Rs 8.01 crore of warrants. If all 4,50,000 warrants convert, Sunil L Mundra’s holding could rise to 10.61% from 5.79%.

What did Natural Capsules allot to Sunil L Mundra?

Natural Capsules allotted 1,12,500 fully paid-up equity shares and 4,50,000 fully convertible warrants to Sunil L Mundra, identified in the filing as a promoter individual. The equity shares have a face value of Rs 10 each and were issued at Rs 178 per share, including a premium of Rs 168 per share. Their aggregate allotment value is Rs 2.00 crore.

Natural Capsules also allotted the 4,50,000 warrants at Rs 178 each, giving them a stated total value of Rs 8.01 crore. Each warrant carries the right to subscribe for one fully paid-up equity share of face value Rs 10. The combined stated value of the equity and warrant components is Rs 10.01 crore, although the full warrant amount is not payable on the allotment date.

The allotment followed shareholder approval at an Extraordinary General Meeting held on September 9, 2026, and in-principle approvals from BSE Limited and the National Stock Exchange of India Limited received on November 4, 2026. The board approved the allotment at its November 13, 2026 meeting, which began at 2:30 pm and concluded at 6:30 pm.

How much cash is payable immediately for the warrants?

Sunil L Mundra is required to pay 25% of the warrant exercise price at subscription and allotment, or Rs 44.50 for each warrant. For 4,50,000 warrants, that upfront payment totals Rs 2.00 crore. This is separate from the Rs 2.00 crore stated for the 1,12,500 equity shares allotted at Rs 178 each.

The remaining 75% of the Rs 178 warrant exercise price becomes payable only when Sunil L Mundra exercises the attached option and receives the equity shares. That balance equals Rs 133.50 per warrant, or Rs 6.01 crore across all 4,50,000 warrants. The filing says the upfront amount paid for warrants will be adjusted or set off against the issue price of the resulting equity shares.

The warrants can be exercised at any time within 18 months of their allotment date. If Sunil L Mundra does not exercise a warrant within that 18-month period, it will lapse and the 25% amount paid at issuance will be forfeited by Natural Capsules. The filing therefore identifies Rs 2.00 crore as the initial warrant subscription amount, while the remaining payment depends on exercise within the stated period.

How could Sunil L Mundra’s holding change after conversion?

Sunil L Mundra held 6,02,290 shares, or 5.79%, before the preferential allotment, according to Natural Capsules’ disclosure. The post-allotment ownership illustration assumes full conversion of all 4,50,000 warrants and shows his holding increasing to 11,64,790 shares, or 10.61%.

That projected percentage represents an increase of 4.82 percentage points from the pre-preferential 5.79% level. The increase in shares shown in the filing is 5,62,500, which combines the 1,12,500 equity shares issued immediately with 4,50,000 shares that would arise only on full warrant conversion. Natural Capsules explicitly labels the post-preferential position as an assumption based on full conversion.

The filing does not state a date by which the warrants must be converted before their 18-month expiry, beyond saying they may be exercised at any time during that period. As a result, the 10.61% figure is not the immediate holding disclosed for Sunil L Mundra; it is the ownership outcome if he converts every warrant into an equity share.

What are the terms and approvals behind the preferential issue?

Natural Capsules made the issue on a preferential basis under Chapter V of the Securities and Exchange Board of India (SEBI) Issue of Capital and Disclosure Requirements Regulations, 2018. The company stated that the Rs 178 issue price was determined under those regulations. The same Rs 178 price applies to both the 1,12,500 equity shares and the 4,50,000 convertible warrants.

The equity shares are to rank pari passu, meaning on equal footing, in all respects with Natural Capsules’ existing equity shares. The company said it would make an application for stock-exchange listing approval for the equity shares allotted. The disclosure identifies one investor for both components, Sunil L Mundra.

Natural Capsules also approved unaudited standalone and consolidated financial results for the quarter and half year ended September 2026 at the November 13, 2026 board meeting. The preferential-issue announcement does not specify the intended corporate use of the equity proceeds or warrant subscription proceeds. It instead sets out the security volumes, the Rs 178 price, the conversion mechanism and the ownership illustration.

Conclusion

Natural Capsules’ November 13, 2026 preferential allotment creates an immediate equity issue valued at Rs 2.00 crore and a warrant instrument with a stated value of Rs 8.01 crore for Sunil L Mundra. The transaction adds 1,12,500 shares at once and creates the potential for 4,50,000 further shares, taking his disclosed holding from 5.79% to 10.61% if every warrant is exercised.

The next disclosed point to watch is the 18-month warrant exercise window from the allotment date. Sunil L Mundra must pay the remaining 75%, or Rs 6.01 crore across all warrants, to receive the potential 4,50,000 additional shares; otherwise, unexercised warrants lapse and their 25% upfront payments are forfeited by Natural Capsules.