Telge Projects Ltd to Raise ₹13 Crore via Preferential Issue of Convertible Warrants

Key numbers

Event Value	₹13.00 CrPreferential Issue
Market Cap	₹272.16 CrSmall Cap
Revenue TTM	₹48.77 CrConstruction
RSI	77.71Overbought Zone

Key highlights

• Issuance of up to 5,67,686 convertible warrants at a price of ₹229 per unit
• Total fund raise aggregates to approximately ₹13,00,00,094
• Warrants allotted to three promoter group members including Vishal Uttam Telge
• Authorized share capital increased from ₹10 crore to ₹15 crore
• Conversion period set for 18 months from the date of allotment

Details of the Fund Raise

The board of Telge Projects has authorized the issuance of up to 5,67,686 convertible warrants on a preferential basis, priced at ₹229 per unit. This pricing is aligned with SEBI ICDR guidelines, ensuring the issue price is not less than the determined floor price. Each warrant is convertible into one fully paid-up equity share of face value ₹10.

Investors are required to pay 25% of the total consideration upfront as a subscription price, amounting to ₹57.25 per warrant, with the remaining 75% payable at the time of conversion within an 18-month window. The company will seek final shareholder approval at an Extraordinary General Meeting on October 23, 2026.

Allottees and Capital Structure

• Vishal Uttam Telge is proposed to be allotted 2,18,340 warrants, increasing his potential holding to 2,32,747 shares.
• Shobha Uttam Telge is slated to receive 1,74,673 warrants, bringing her post-conversion holding to 2,04,680 shares.
• Shailesh Uttam Telge will be allotted 1,74,673 warrants, resulting in a total post-conversion holding of 2,59,873 shares.
• The current promoter holding stands at 72.16%, reflecting strong internal support for the capital raise.
• The authorized share capital is being increased by 50% to accommodate the new equity issuance.

Financial Performance and Market Context

Telge Projects operates within the construction and engineering sector and has demonstrated robust growth with annual revenue rising 55.77% to ₹40.21 crore in the last fiscal year. The company's TTM net profit reached ₹7.7 crore, supported by an operating profit margin of 24.47% in the latest quarter. While the stock's P/E ratio of 45.79x is higher than the sector average of 32.99x, the company maintains a healthy Return on Equity of 14.2%.

The stock has shown significant momentum recently, gaining 50.31% over the past month, which aligns with the high momentum score of 77.91 and an RSI indicating overbought conditions at 77.71.

Business Overview

Telge Projects is an engineering services provider specializing in Building Information Modeling (BIM), structural engineering, and MEP (Mechanical, Electrical, and Plumbing) services. The company caters to diverse sectors including oil and gas, infrastructure, and commercial construction. By providing technology-driven design and project management solutions, the firm assists clients in optimizing construction costs and timelines.

This fund raise is positioned to enhance their technical capabilities and support the execution of a growing project pipeline within the Indian infrastructure landscape, where sector revenue growth has recently averaged 9.32%.

Telge Projects · financial snapshot

Share price	₹278
Market capitalisation	₹272.16
Revenue (annual)	₹40.21
Net profit (annual)	₹5.94
P/E (TTM)	45.79×Sector 32.99×
Promoter holding	72.16%+0.51% QoQ
FII holding	1.14%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.