Jattashankar raises ₹27.6 cr via warrants, dilutes ~15.7% of mcap
The nano-cap textiles company approved 30 lakh convertible warrants to 13 allottees, including promoters. Allottees paid ₹6.9 crore upfront; the balance is due in 18 months.
— 1 earlier story on Jattashankar Industries Ltd. →What's new
- Board approved allotment of 30 lakh convertible warrants at ₹92 each.
- Allottees paid 25% upfront (₹6.9 cr); balance payable in 18 months.
- This is a fresh increase in the capital-raising programme, on top of earlier 13.05 lakh warrants that raised ₹12 cr.
Why this matters
For a nano-cap with a market cap of ₹176 crore, this warrant issue adds roughly 16% to the equity base if fully converted. The company gets an immediate ₹6.9 crore cash injection, but existing shareholders face significant dilution. The ₹92 issue price and the material size of the raise make conversion a key event to watch.
What we're watching
- Whether allottees convert at expiry; dilution hinges on conversion.
- How the company deploys the fresh cash — its net profit is just ₹1 cr on ₹73 cr sales.
- Any further capital raises, given two warrant issues in quick succession.
The full read
Jattashankar Industries is raising ₹27.6 crore via 30 lakh convertible warrants at ₹92 a share. That sum equals 15.7% of the company's market cap. Big for a nano-cap. Promoter entities Spazio Formulations and two Alantis group LLPs are among the 13 allottees who paid ₹6.9 crore upfront, with the balance due in 18 months. Dilution is real if all warrants convert. This is a separate, larger raise from the ₹12 crore warrant issue earlier this year. The company earned just ₹1 crore on ₹73 crore of sales in its latest quarter. How it deploys the new cash is the open question.
Questions answered
- How many warrants were allotted and at what price?
- 30 lakh warrants at ₹92 each, raising up to ₹27.6 crore.
- Who are the allottees?
- 13 allottees including promoter group entities Spazio Formulations and two Alantis group LLPs, plus non-promoter investors.
- What is the dilution percentage?
- The warrant proceeds equal about 15.7% of the company's ₹176 crore market cap. If fully converted, equity could increase by roughly 16%.
- When must conversion happen?
- Allottees paid 25% upfront. The balance 75% is payable within 18 months at the time of conversion into equity shares.
- How does this compare to the earlier warrant issue?
- The company had earlier allotted 13.05 lakh warrants (raised approx ₹12 crore). This fresh allotment of 30 lakh warrants is a significant increase in the capital-raising programme.
- What is the company's financial health?
- Jattashankar has zero debt. For the quarter ended Mar 2026, it reported sales of ₹73 crore and a net profit of just ₹1 crore.
Jattashankar Industries Ltd.
Latest quarter · Mar 2026
Strength & growth
Story so far
All notes on JATTAINDUS →- 23 Jun 2026 · 7:17 PM IST Jattashankar raises ₹27.6 cr via warrants, dilutes ~15.7% of mcap
- 3d ago Jattashankar raises ₹12 cr via warrants, but allotment is a fraction of plan