Wardwizard Healthcare allots Rs 10.87 crore in warrants

Wardwizard Healthcare Limited allotted 1.087 crore fully convertible warrants at Rs 10 each on November 4, 2026, creating a Rs 10.87 crore preferential issue after cutting the proposed 1.25 crore-warrant issue. Wardwizard Healthcare received Rs 2.72 crore upfront, representing 25% of the total consideration from 17 promoter and non-promoter allottees.

Why did Wardwizard Healthcare reduce the warrant issue?

Wardwizard Healthcare reduced the warrant issue after Ilyashbhai Dhobi informed the company in writing that he could not participate and promoter-group allottee Yatin Sanjay Gupte reduced his intended subscription to 42 lakh warrants from 52 lakh warrants. The final allotment of 1.087 crore warrants was therefore 16.3 lakh warrants below the originally proposed 1.25 crore warrants.

The reduction lowers the full consideration linked to the issue because every warrant carries an issue price of Rs 10. At that price, the original 1.25 crore-warrant proposal represented Rs 12.50 crore of consideration, compared with Rs 10.87 crore for the completed allotment, a difference of Rs 1.63 crore.

Wardwizard Healthcare’s board approved the revised allotment through a resolution passed by circulation on November 4, 2026. The allotment followed shareholder approval at the company’s 42nd annual general meeting on September 30, 2026, and BSE Limited’s in-principle approval on October 22, 2026.

How much money has Wardwizard Healthcare received from the warrants?

Wardwizard Healthcare has received Rs 2.72 crore as the upfront 25% payment on the allotted warrants, while Rs 8.15 crore remains payable when holders exercise their conversion rights. The company’s disclosure describes Rs 10.87 crore as the total amount raised, although the filing also identifies the Rs 8.15 crore balance as payable on conversion.

The payment structure requires each allottee to pay the remaining 75% for the warrants it chooses to convert. This means Wardwizard Healthcare has received the initial subscription amount on November 4, 2026, while collection of the remaining consideration depends on conversion during the 18-month exercise period.

Wardwizard Healthcare issued the instruments at par, with an issue price of Rs 10 per warrant and a face value of Rs 10 for each underlying equity share. The company said the price was determined under the Securities and Exchange Board of India, or SEBI, Issue of Capital and Disclosure Requirements Regulations, 2018, based on a valuation report from an independent registered valuer.

Who received Wardwizard Healthcare’s 1.087 crore warrants?

Wardwizard Healthcare allotted 42 lakh warrants to Yatin Sanjay Gupte and 18 lakh warrants to Sheetal Mandar Bhalerao, both classified as promoter or promoter-group allottees. Their combined allocation of 60 lakh warrants represents more than half of the 1.087 crore warrants issued to the 17 investors.

Yatin Sanjay Gupte’s 42 lakh-warrant allocation requires Rs 1.05 crore as the 25% upfront subscription amount, while Sheetal Mandar Bhalerao’s 18 lakh warrants required Rs 45 lakh. Yatin Sanjay Gupte’s actual allotment is 10 lakh warrants below the 52 lakh warrants initially proposed for him.

Among the non-promoter allottees, Arpit Kabra, P. B. Films Limited and Kayan Investment & Trading Company Private Limited each received 6.3 lakh warrants. At Rs 10 per warrant, each of those allocations has full consideration of Rs 63 lakh and an upfront payment of Rs 15.75 lakh.

Six allottees, Ram Chander Sharma, Nitu Sharma, Ram Chander Sharma HUF, Shyam Sunder Sharma, Hemlata Sharma and Shyam Sunder Sharma HUF, received 2 lakh warrants each. Aakanksha Kabra received 2.5 lakh warrants, Sanjay Kumar Sharma, Pooja Chotia, Havish Suppliers LLP and Ruchika Dhanuka each received 3 lakh warrants, and Kailash Dhanuka HUF received 3.3 lakh warrants.

When can Wardwizard Healthcare warrants convert into shares?

Wardwizard Healthcare’s warrants may be converted at any time within 18 months from their November 4, 2026 allotment date. Each warrant converts into one equity share with a face value of Rs 10, and holders may exercise conversion in one or more tranches after paying the outstanding 75% consideration.

The conversion ratio means that full exercise of all 1.087 crore warrants would result in the issue of an equivalent 1.087 crore equity shares. The timing and extent of that potential share issue are not fixed because each holder can convert only some warrants, or convert in multiple tranches, within the stated 18-month period.

Wardwizard Healthcare said the warrants were issued in electronic form and are subject to lock-in under Chapter V of the SEBI Issue of Capital and Disclosure Requirements Regulations, 2018. The company also disclosed that warrant terms may be adjusted for events including capitalisation of profits or reserves, a demerger or realignment, rights issue, consolidation, subdivision or reclassification of equity shares.

What does the warrant allotment mean for Wardwizard Healthcare share capital?

Wardwizard Healthcare reported no immediate change in its paid-up equity share capital because it allotted warrants rather than equity shares on November 4, 2026. Paid-up capital can increase only when a holder converts warrants and pays the remaining 75% due on the instruments exercised.

The potential maximum share issuance is now 1.087 crore shares rather than the 1.25 crore shares contemplated under the earlier proposal. The completed allotment therefore reduces the maximum number of shares that could arise from this preferential issue by 16.3 lakh shares, assuming full conversion.

The company’s allottee annexure shows that Yatin Sanjay Gupte held 90,750 shares, or 37.04%, before the preferential issue, while Sheetal Mandar Bhalerao held 34,760 shares, or 14.19%. The annexure’s displayed post-issue percentages are expressly based on an assumption of conversion of 1.25 crore warrants, rather than the revised 1.087 crore allotment.

That distinction means the disclosed illustrative post-conversion ownership percentages should not be read as calculations for the final warrant count. The source provides the actual revised warrant numbers, the one-for-one conversion ratio and the 18-month conversion mechanism, but does not provide recalculated ownership percentages for full conversion of 1.087 crore warrants.

Conclusion

Wardwizard Healthcare completed a Rs 10.87 crore preferential warrant allotment at Rs 10 per warrant, after reducing the proposed issue by 16.3 lakh warrants. The company received Rs 2.72 crore upfront from 17 allottees, while the remaining Rs 8.15 crore is tied to future exercises of the warrants.

The next disclosed event to watch is the exercise of conversion rights on or before 18 months from November 4, 2026. Any conversion in that period requires payment of the unpaid 75% and would increase Wardwizard Healthcare’s paid-up equity share capital by the number of warrants converted.