Kontor Space raises ₹53.6M from promoter via convertible warrants
What's the deal? Kontor SpaceDealroom has a profile for this one. Try Dealroom → Limited has allotted 715,000 fully convertible warrants to promoter Kanak Mangal, raising ₹53,625,000 (about $560,176) in a preferential allotment on a private placement basis. The warrants were issued at ₹75 each and allotted on July 29, 2026.
Why now? The board approved the transaction following a resolution passed at an extraordinary general meeting on July 10, 2026. The company has so far received a subscription payment of ₹13,406,250 against the warrants.
What's the endgame? Each warrant converts into one equity share of ₹10 face value, carrying a ₹65 premium. Holders can subscribe to up to 500,000 equity shares, with an exercise price of ₹56.25 per warrant.
The warrants run for 18 months from the allotment date, with the final conversion deadline set for January 29, 2028. Any unconverted warrants lapse thereafter.
The signal: Preferential allotments to promoters are a common route for smaller listed Indian firms to raise capital while signalling insider confidence. Mangal's post-issue stake stands at 64.01%, and the stock closed flat at ₹58.05 on the day.
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