Suyog Telematics converts warrants, increases paid-up capital

Suyog Telematics Limited announced the conversion of 527,500 convertible warrants into an equal number of equity shares, increasing the company's paid-up equity share capital to ₹11,71,71,200. The conversion, approved by the Fund Raising Committee on October 10, 2025, saw promoter Suchitra Shivshankar Lature convert all her held warrants.

Each equity share was issued at a price of ₹570, including a premium of ₹560. The conversion involved the receipt of the balance 75% allotment amount, totaling ₹22,55,06,250, from the allottee. These newly allotted equity shares will rank pari-passu with the existing equity shares of the company.

This transaction follows the initial allotment of 1,055,000 convertible warrants on a preferential basis on April 12, 2024. The company stated that an amount equivalent to 25% of the warrant issue price was received at the time of subscription and allotment, with the remaining 75% collected upon exercise of the conversion option.