Bengaluru-based realty developer Brigade Enterprises has cancelled its ₹180 crore fundraising plan through convertible warrants after promoter group entity Mysore Holdings Private Limited withdrew its proposed subscription. As per the latest NSE filing, the board of directors approved the withdrawal of the preferential issue of convertible warrants to the promoter group entity on Friday, July 17, 2026. The promoter group had earlier shown interest in subscribing to the convertible share warrants, for which the board had given approval on July 15, 2026. The withdrawal was cited due to 'deference' in sentiments expressed by the funds and the investors, according to the company's exchange filing.
The cancelled warrants would have been issued under the same terms as previously approved, with 34,23,000 convertible warrants eligible for conversion into equity shares at ₹526 per share. As reported by Business Standard, these warrants carry a face value of ₹10 per equity share with a premium of ₹516 per equity share, aggregating to ₹180,04,98,000. The convertible warrant structure would have allowed warrants to be converted into equity shares at a predetermined price of ₹526 per share, with each warrant convertible into one equity share within 18 months from the date of allotment in line with SEBI regulations. The ₹1,500 crore NCD limit approved alongside the warrants remains unaffected by this cancellation.
The convertible warrant issuance to promoter group entities required shareholders' approval at the company's 31st annual general meeting scheduled for August 13, 2026 at 11:00 a.m. at Sheraton Grand Hotel in Bangalore. As reported by Business Standard, this approval process ensures proper governance and stakeholder consultation for the significant equity restructuring. The warrant structure provided flexibility for future equity conversion while maintaining the current share price premium structure. Post-exercise, M/s. Mysore Holdings Private Limited's shareholding would have increased from 2.57% to 3.58%. The company has also approved receipt of the initial 25% subscription money for the promoter warrants upon allotment, demonstrating strong promoter confidence in the growth strategy.
The board has approved a ₹2 per share final dividend for FY2025-2026 with August 5, 2026 as the record date to determine shareholder entitlement. According to NSE data, the company fixed the record date for the final dividend issue on Wednesday, August 5, 2026. All eligible shareholders will receive a dividend payment of ₹2 per share up to one day ahead of the predetermined record date. The company's board of directors recommended a ₹2 per share final dividend issue with a face value of ₹10 apiece for the financial year ended 2025-26. The dividend issue is set to receive shareholders' approval in the upcoming annual general meeting on Thursday, August 13, 2026.
Brigade Enterprises shares closed 2.13% higher at ₹566.65 on Friday, July 17, compared to ₹554.85 at the previous market session, according to NSE data. The stock has delivered more than 122% returns to investors in the last five years and over 28% gains in the last three years, though it has lost 33% in the past one year. In the calendar year 2026, the company's stock dropped 16% and was flat over the last one-month period. The company's market capitalisation stood at ₹18,460 crore as of the stock market close on Friday, July 17, 2026. The shares surged to their 52-week high of ₹856.50 on July 17, 2025, while the 52-week low was at ₹450.75 on March 23, 2026.
