Supreme Engineering allots 14.5 crore warrants for Rs 37.70 crore

Supreme Engineering Limited, referred to hereafter as Supreme Engineering, allotted 14.5 crore fully convertible warrants on November 10, 2026, at Rs 2.60 each for potential consideration of Rs 37.70 crore. The company received Rs 9.45 crore at allotment, while the balance is payable only if warrant holders seek conversion within 18 months.

What did Supreme Engineering allot on November 10, 2026?

Supreme Engineering allotted 14.5 crore warrants on a preferential basis to seven promoter and non-promoter category investors at Rs 2.60 per warrant. The stated aggregate subscription consideration is Rs 37.70 crore, and the board approved the allotment through a resolution dated November 10, 2026.

Each warrant is fully convertible into one fully paid-up equity share of Supreme Engineering. The resulting share would have a face value of Rs 1 and be issued at Rs 2.60, comprising Rs 1 face value and Rs 1.60 premium, with the amount already paid on the warrant adjusted against that share price.

The allotment followed board meetings held on September 1, 2026 and September 24, 2026, a special resolution passed at the annual general meeting on October 1, 2026, and in-principle approval from the National Stock Exchange of India dated October 26, 2026. The filing describes the issue as a private-placement preferential allotment under the applicable securities and company-law provisions.

How much money has Supreme Engineering received from the issue?

Supreme Engineering received Rs 9.45 crore on the November 10, 2026 allotment date, compared with the Rs 37.70 crore aggregate subscription amount for all 14.5 crore warrants. Thus, Rs 28.25 crore of the stated consideration remains dependent on future conversion payments by holders.

The filing says a minimum 25% of the warrant issue price was payable at subscription and allotment. On conversion, holders must pay the balance 75% of the Rs 2.60 warrant price, after which each warrant becomes one equity share; until that payment and conversion, the instruments are warrants rather than issued equity shares.

The disclosed payment pattern differs for Trina Vyas and Tanaisha Vyas. Each paid Rs 50 lakh against Rs 1.95 crore of aggregate subscription consideration, and the filing identifies those payments as 25.64% of the respective amount, while it describes the other upfront payments as 25%.

Who received Supreme Engineering's 14.5 crore warrants?

Sanjay Chowdhri received 7 crore warrants, the largest allocation and about 48.28% of the 14.5 crore total. His allocation carries Rs 18.20 crore of aggregate subscription consideration, of which Supreme Engineering reported receiving Rs 4.55 crore at allotment.

Hardik D. Parekh received 2 crore warrants, while Abhinav Chowdhri and Pranav Chowdhri received 1.5 crore warrants each. Their combined allocation is 5 crore warrants, with aggregate subscription consideration of Rs 13 crore and reported allotment-date receipts of Rs 4.25 crore.

The remaining 2.5 crore warrants were allotted to Nikita Hardik Parekh, Trina Vyas and Tanaisha Vyas. Nikita Hardik Parekh received 1 crore warrants for Rs 2.60 crore of aggregate consideration, while Trina Vyas and Tanaisha Vyas each received 75 lakh warrants for Rs 1.95 crore apiece.

The filing sets out indicative holdings assuming every warrant is converted. On that basis, Sanjay Chowdhri's holding would rise from 5.66 crore shares, representing 22.64%, before the preferential issue to 18.16 crore shares, or 26.87%, after full conversion. The percentages and post-allotment share figures are therefore assumptions, not a statement that conversion had occurred on November 10, 2026.

When can Supreme Engineering warrants be converted into shares?

Supreme Engineering's warrant holders may seek conversion in one or more tranches within 18 months from the November 10, 2026 allotment date. Conversion requires payment of the outstanding 75% of the Rs 2.60 issue price, and each converted warrant results in one fully paid-up equity share.

The filing's conditional ownership schedule shows Abhinav Chowdhri moving from 75 lakh shares, or 3.00%, to 2.75 crore shares, or 4.07%, if all allotted warrants convert. Pranav Chowdhri would move from 68 lakh shares, or 2.72%, to 2.68 crore shares, or 3.96%, under the same assumption.

Hardik D. Parekh's indicated holding would increase from 54,201 shares, or 0.02%, to 2 crore shares, or 2.97%, on full conversion. For allottees shown with no pre-preferential holding, Trina Vyas and Tanaisha Vyas would each hold 75 lakh shares, or 1.11%, while Nikita Hardik Parekh would hold 1 crore shares, or 1.48%.

Supreme Engineering reported no cancellation or termination of the issuance proposal. The key distinction is between the completed allotment of 14.5 crore warrants and the possible later issue of up to 14.5 crore equity shares, which depends on holders exercising their conversion rights and paying the balance consideration.

Conclusion

Supreme Engineering has completed the allotment stage of a Rs 37.70 crore preferential warrant issue, with Rs 9.45 crore received at the outset from seven investors. The transaction can result in up to 14.5 crore equity shares, but that outcome remains conditional because conversion requires holders to pay the remaining 75% of the Rs 2.60 price.

The next disclosed event is the 18-month conversion window beginning November 10, 2026. Investors can watch for conversion disclosures, receipt of further consideration and resulting changes in the holdings of the seven allottees, including Sanjay Chowdhri's 7-crore-warrant allocation.