Kontor Space raises US$727.9K 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 US$728.2K in a preferential allotment on a private placement basis. The warrants were issued at US$1.02 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 US$182.1K against the warrants.
What's the endgame? Each warrant converts into one equity share of US$0.14 face value, carrying a US$0.88 premium. Holders can subscribe to up to 500,000 equity shares, with an exercise price of US$0.76 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 US$0.79 on the day.
Read more: Investoo Market
Image credit: GoToVan
