iStreet Network Converts 18.33 Lakh Warrants to Equity Shares, Raises ₹1.10 Crore

iStreet Network Limited has successfully converted 18,33,334 warrants into equity shares through a board resolution passed on March 07, 2026. The conversion represents the exercise of warrant holders' rights under SEBI ICDR Regulations, 2018, generating proceeds of ₹1,10,00,004 for the company. Warrant Conversion Details The conversion involved warrants with a face value of ₹4 each, converted at an exercise price of ₹4.5 per warrant. This exercise price represents 75% of the original warrant issue price of ₹6 per warrant. The warrants were originally allotted on November 28, 2025, with warrant holders having paid 25% (₹1.5 per warrant) at the time of initial allotment. Parameter: Details Total Warrants Converted: 18,33,334 Face Value per Share: ₹4 Exercise Price per Warrant: ₹4.5 Total Amount Received: ₹1,10,00,004 Original Issue Price: ₹6 per warrant Allottee Breakdown The warrant conversion involved two public category investors, with the allotment distributed as follows: Allottee Name: Warrants Converted Amount Paid (₹) Chetana S. Shah: 1,66,667 7,50,002 Ritesh Mehta: 16,66,667 75,00,002 Total: 18,33,334 1,10,00,004 All warrant holders converted their entire holdings, with 100% subscription achieved for the conversion process. Impact on Share Capital The successful conversion has resulted in a significant increase in the company's paid-up equity share capital. The capital structure transformation reflects the company's ability to attract and retain investor interest through its warrant instrument. Capital Component: Before Conversion (₹) After Conversion (₹) Paid-up Equity Capital: 26,58,66,672 27,32,00,008 Increase: 73,33,336 The newly allotted equity shares rank pari-passu with existing equity shares in all respects, including dividend rights. This ensures equal treatment of all shareholders and maintains the uniform structure of the company's equity base. Regulatory Compliance The conversion process was conducted in full compliance with SEBI regulations, specifically under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company has fulfilled all disclosure requirements as per SEBI Master Circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring transparency in the allotment process. istreet network Limited has received listing approval from BSE Limited for 4,51,66,668 equity shares issued on a preferential basis. The approval was communicated through BSE's letter LOD/PREF/DA/FIP/1798/2025-26 dated March 04, 2026, marking a significant milestone in the company's capital expansion plans. Share Issue Details The approved equity shares carry specific parameters that define their market positioning and ownership structure: Parameter: Details Total Shares: 4,51,66,668 equity shares Face Value: Rs. 4 per share Premium: Rs. 2 per share Issue Price: Rs. 6 per share Distinctive Numbers: 2,13,00,001 to 6,64,66,668 Issue Category: Promoter and non-promoter Issue Basis: Preferential Regulatory Compliance Requirements BSE Limited has outlined several compliance requirements that iStreet Network Limited must fulfill before trading approval is granted. The exchange has emphasized adherence to Regulation 167 of SEBI (ICDR) Regulations and other SEBI specifications. Key compliance requirements include: Filing shareholding pattern in XBRL mode if changes exceed two percent of total paid-up share capital Obtaining listing approval from National Stock Exchange of India Ltd. (if applicable) Securing confirmation letters from NSDL/CDSL regarding crediting shares to beneficiary accounts Obtaining confirmation for lock-in of pre-preferential holding (if applicable) Trading Approval Timeline The company must adhere to strict timelines for trading approval as per SEBI regulations. According to Schedule XIX of ICDR Regulations and SEBI circular SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023, listed entities must apply for trading approval within seven working days from the date of listing approval grant. Corporate Communication The listing approval notification was signed by Pratibha Ranka, Company Secretary and Compliance Officer of iStreet Network Limited. The company is headquartered at Unit No. A-2, 2nd Floor, D J House, Old Nagardas Road, Andheri East, Mumbai - 400069, and operates under the corporate identification number L62013MH1986PLC040232. The BSE approval letter was issued by Prachi Babadi, Manager, and Dhananjay Apte, Deputy Manager, representing the exchange's commitment to facilitating the listing process while ensuring regulatory compliance. We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. 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