The company's Board has approved the conversion of 16 lakh warrants into an equal number of equity shares of ₹10 each.

These warrants were part of a previous allotment of 2.59 Cr convertible warrants at ₹16.50 each.

The conversion, primarily by a non-promoter, generated ₹1.98 Cr from the remaining exercise price.

This has increased the company's paid-up equity share capital from ₹44.26 Cr to ₹45.86 Cr.

The new shares will be submitted for listing, impacting the total outstanding shares and strengthening the capital base.