Stellant Securities raises Rs 40.8389576 crore in shares

Stellant Securities (India) Limited allotted 678,388 equity shares on November 4, 2026, raising Rs 40.8389576 crore from 30 non-promoter/public investors at Rs 602 each; the largest allocation was 166,112 shares to Lloyds Enterprises Limited. The board also allotted 166,200 promoter-group warrants at the same issue price.

What did Stellant Securities allot on November 4, 2026?

Stellant Securities allotted 678,388 equity shares for cash to 30 allottees classified as non-promoter/public, at Rs 602 per share. Each share has a face value of Rs 10 and carries a premium of Rs 592, taking the aggregate consideration for the equity issue to Rs 40.8389576 crore.

The board approved the allotment at its November 4, 2026 meeting, held from 7.00 p.m. to 8.00 p.m. The transaction followed shareholder approval for preferential equity shares and warrants at the extraordinary general meeting on August 24, 2026, and BSE Limited's in-principle approval on October 21, 2026.

The filing describes the equity issue as a preferential allotment under Chapter V of the Securities and Exchange Board of India, or SEBI, Issue of Capital and Disclosure Requirements Regulations, 2018. It also cites the Companies Act, 2013 and related rules, while the disclosure itself was made under Regulation 30 and Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Which public investors received Stellant Securities shares?

Lloyds Enterprises Limited received the largest public allocation from Stellant Securities, with 166,112 shares for Rs 9.9999424 crore. Vibhoar Agrawal received 83,056 shares for Rs 4.9999712 crore, while Invicta Capserv Private Limited received 49,833 shares for Rs 2.9999466 crore.

The next-largest allocation was 41,528 shares to Purnima Ankit Jajoo, for Rs 2.4999856 crore. Vikas Pavan Kumar and Money Seed each received 33,222 shares, with consideration of Rs 1.9999644 crore apiece, while the smallest disclosed allocation was 1,661 shares to Nikhil Mahendrakumar Goyal for Rs 9.99922 lakh.

How did the public equity issue compare with the warrants?

Stellant Securities' public equity allotment exceeded its promoter-group warrant allotment in both securities issued and stated total consideration. The company issued 678,388 equity shares for Rs 40.8389576 crore, compared with 166,200 warrants carrying total consideration of Rs 10.00524 crore.

The two instruments had the same Rs 602 issue price and Rs 10 face value, but their cash-payment terms differed at allotment. The public allottees received equity shares against the full stated Rs 40.8389576 crore consideration, whereas warrant holders had paid 25% of the Rs 10.00524 crore total, or Rs 2.50131 crore.

Each warrant is convertible into one equity share, according to the disclosure. The filing does not specify a conversion date, a deadline for payment of the remaining 75% subscription consideration, or whether that balance had subsequently been received.

Who received Stellant Securities promoter-group warrants?

Stellant Securities allotted 166,200 warrants to three promoter-category allottees: Mangla Subhash Rathod received 33,224 warrants, while Mayank Rathod and Saajan Rathod each received 66,488 warrants. The filing classifies all three recipients as promoters in both current and proposed status.

At Rs 602 per warrant, Mangla Subhash Rathod's allocation carried total consideration of Rs 2.0000848 crore, while the allocations to Mayank Rathod and Saajan Rathod each carried Rs 4.0025776 crore. The three allotments together account for the disclosed Rs 10.00524 crore warrant consideration.

Mangla Subhash Rathod paid Rs 50.00212 lakh at allotment, and Mayank Rathod and Saajan Rathod each paid Rs 1.0006444 crore. These payments total Rs 2.50131 crore, matching the 25% subscription amount reported by Stellant Securities for the 166,200 warrants.

What does the disclosure say about proceeds and next steps?

Stellant Securities disclosed the amount, price, recipients and category of the November 4 allotments, but did not state an intended use for the Rs 40.8389576 crore equity proceeds. The disclosure identifies the public equity recipients individually and separates them from the three promoter warrant allottees.

The issue premium accounted for Rs 592 of the Rs 602 price for both the equity shares and warrants, with the remaining Rs 10 representing face value. The filing therefore records immediate cash consideration from the public equity allotment and only the 25% upfront payment, or Rs 2.50131 crore, on the promoter-group warrants.

The disclosure does not provide the company's share capital before or after the 678,388-share issue. It also does not disclose a timetable for warrant conversion, payment of the remaining warrant consideration, or deployment of the equity proceeds.

Conclusion

The November 4 allotment gave Stellant Securities Rs 40.8389576 crore of stated cash consideration from 678,388 equity shares issued to 30 non-promoter/public investors. Lloyds Enterprises Limited received the largest allocation of 166,112 shares, while the parallel promoter-group instrument involved 166,200 warrants with total consideration of Rs 10.00524 crore.

The next disclosed matter to watch is the warrant process: only Rs 2.50131 crore, equal to 25% of the total warrant consideration, had been paid at allotment. Stellant Securities did not disclose a conversion timetable, a deadline for the remaining payment, or the intended use of proceeds from the equity issue.