The allotment is pursuant to the conversion of 500,000 previously issued warrants (at an issue price of ₹387.40 per warrant) into equity shares.
Published: January 18, 2026 1:20 PM IST
Fineotex Chemical Ltd., a tiny-cap chemical company, will be in focus when market opens on Monday as the company has provided significant information to investors in its latest exmodify filing. The company has a market cap of ₹2,628.35 crore.
In its latest exmodify filing, the company declared that the Fund Raising Committee of its Board of Directors, at its meeting, inter alia, approved the allotment of 50,00,000 equity shares of face value ₹1 each at ₹38.74 per share (including a premium of ₹37.74 per share).
The allotment is pursuant to the conversion of 500,000 previously issued warrants (at an issue price of ₹387.40 per warrant) into equity shares. These shares have been allotted on a preferential basis to Intuitive Alpha Investment Fund PCC – Cell 1, which belongs to the non-promoter category.
The Company has received a total of ₹14,52,75,000 as the balance amount on exercise of conversion rights by the warrant holders, deposited at ₹290.55 per warrant (i.e. 75% of the issue price). Subsequently, the issued and paid-up share capital of the Company has increased to ₹116,45,00,900, divided into 116,45,00,900 equity shares of face value ₹1 each.
Ashish Kacholia held a 2.6% stake, or 3,000,568 equity shares, valued at ₹6.9 crore in Fineotex Chemicals as of the September quarter, according to the latest data from Trconcludelyne. The investor has not yet filed its latest December information.
He had previously reduced his stake by 0.1% in Q2. Ashish Kacholia previously held a 2.7% stake in the company.
The company’s stock closed at Rs 22.94 on Friday, up 0.84% or Rs 0.19 on the BSE and NSE.
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