The Craftroot Retail preferential issue received board approval on October 3, 2026, with the company proposing up to two crore convertible warrants at Rs 11 each, according to its BSE filing. The proposed fundraising totals Rs 22 crore and remains subject to shareholder and other necessary approvals.

Craftroot Retail Ltd, formerly known as Nirbhay Colours India Limited, plans to issue the warrants to 14 proposed allottees across promoter and public categories. The company trades on BSE under scrip code 526349.

The board also approved raising authorised share capital from Rs 3.50 crore to Rs 23.50 crore, subject to shareholder and regulatory approvals. The revised capital clause would provide for 2.35 crore equity shares with a face value of Rs 10 each.

Proposed allotment and conversion terms

The promoter category accounts for 1,17,93,000 proposed warrants, including an allocation to Seher Retail Private Limited. Public-category entities account for the remaining 82,07,000 warrants.

Among the proposed public-category allottees, Efficient Tie Up Private Limited is listed for 19,29,000 warrants and Innovative Infraplus India Limited for 13,83,000 warrants. Suparshva Urban Ventures LLP and Padmaprabhu Urban Estate LLP are each proposed to receive 11,00,000 warrants.

  • Each warrant carries the right to subscribe to one equity share.
  • Warrant holders may exercise their rights in one or more tranches within 18 months from allotment.
  • Subscribers must pay 25% of the warrant issue price at subscription and allotment, with the remaining 75% payable on exercise.
  • Unexercised warrants will lapse after the stipulated period, and the company will forfeit the amount paid on those warrants.

Shareholder meeting scheduled for November 5

The board approved the draft notice for an extraordinary general meeting on November 5, 2026, at the company's registered office in Ahmedabad. It fixed October 6, 2026, as the relevant date for the preferential issue under SEBI ICDR Regulations.

The board noted a valuation report submitted by independent registered valuer Manish Santosh Buchasia for calculating the minimum floor price. It also appointed practising company secretary Rupal Patel as scrutinizer for the EGM's e-voting process.