Sunteck Realty raises ₹500 crore through allotment of 1.18 crore convertible warrants

Mumbai-based realty firm Sunteck Realty Ltd on Friday (December 5) said it has allotted 1.18 crore convertible warrants at an issue price of ₹425 per warrant, amounting to ₹500 crore, through a preferential allotment to its promoter group and selected non-promoter investors.

The company disclosed that it received 25% of the total consideration upfront, equivalent to ₹124.99 crore, with the remaining 75% payable upon warrant conversion within 18 months.

The allotment follows approvals granted by the

Board on September 5, 2025, and by shareholders on September 30, 2025. In-principle approvals from both BSE and NSE were received on November 24, 2025. Each warrant is convertible into one equity share of face value ₹1, subject to payment of the balance amount at the time of conversion.

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Among the allottees, Samagra Wealthmax Pvt Ltd received 17.65 lakh warrants for ₹74.99 crore, with ₹18.75 crore paid upfront. Glint Infraprojects Pvt Ltd was allotted 11.76 lakh warrants valued at ₹49.99 crore, with an upfront payment of ₹12.50 crore. Bhuwalka Steel Industries Ltd received the largest tranche at 48.82 lakh warrants worth ₹207.50 crore, of which ₹51.88 crore has been paid.

Non-promoter allotments include 14.12 lakh warrants to Utpal Hemendra Sheth for ₹60 crore, 17.65 lakh warrants to Mukul Mahavir Agrawal for ₹75 crore, 4.12 lakh warrants to BW South Asia Ltd for ₹17.50 crore, and 3.53 lakh warrants to NTAsian Discovery Master Fund for ₹15 crore. The upfront payments received from these investors totalled ₹41.87 crore.

Sunteck Realty stated that the preferentially allotted warrants will be subject to lock-in requirements. The company added that warrant holders must exercise their entitlement within 18 months from the date of allotment for conversion into equity shares.

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Shares of Sunteck Realty Ltd ended at ₹404.95, down by ₹7.05, or 1.71%, on the BSE.