Mufin Green Finance Limited has approved the allotment of more than 2.49 crore equity shares and 76.5 lakh warrants as part of its capital expansion plan. The decision was finalized during a meeting of the Committee of Directors held on March 4, 2026, after receiving earlier approvals from the company’s board and shareholders in late 2025.
According to the company’s official disclosure, a total of 2,49,30,765 fully paid-up equity shares were allotted along with 76,53,061 warrants. Both the equity shares and the warrants were issued at a price of ₹98 per unit. This price includes a premium of Rs. 97 per share over the face value of Rs. 1.
The warrants issued under this allotment provide the right to convert them into equity shares within a period of 18 months. A major portion of these warrants has been allotted to the promoter group entity Hindon Mercantile Limited. As per the terms of the issue, the company has received 25 percent of the warrant price at the time of allotment, while the remaining 75 percent will be payable at the time of conversion into equity shares.
If the warrant holders choose not to exercise their right to convert the warrants into equity shares within the 18-month period, the initial payment made at the time of allotment will be forfeited. This structure allows the company to secure immediate capital while also providing investors with the option to participate further in the company’s growth.
The allotment has led to a significant change in the company’s share capital. Before the issuance, the paid-up capital of the company stood at ₹17,32,31,423. Following the allotment of the new equity shares, the paid-up capital has increased to ₹19,81,62,188. As a result, the total number of equity shares of the company has now reached 19,81,62,188, with each share carrying a face value of ₹1.
The allotment also attracted participation from a wide range of investors. Around 130 non-promoter investors took part in the issue alongside the promoter group. Some of the key non-promoter allottees include MMG Advisors LLP, Sandeep Kapadia, and Sageone Flagship Growth OE Fund. In addition to these investors, several investment funds, private limited companies, and individual investors also subscribed to the issue.
The newly allotted equity shares will rank on a pari-passu basis with the existing shares of the company. This means the new shares will carry the same rights and benefits as those already held by existing shareholders. Through this capital infusion, the company aims to strengthen its financial position and support its future expansion plans in the green energy financing sector while building a broader investor base.
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