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Jet Freight Logistics Promoter group is backing itself with fresh capital. - 2,22,40,000 warrants allotted on a preferential basis at ₹18 each - Face value ₹5, each warrant convertible into 1 equity share - Total commitment on full conversion: ₹40.03 crore - 25% upfront: ₹10.01 crore. Balance ₹30.02 crore payable on conversion - Conversion window: 18 months from allotment (board meeting June 05, 2026) WHO IS SUBSCRIBING (all Promoter Group) - Thea Richard Theknath: 74,13,333 warrants - Tyrus Richard Theknath: 74,13,334 warrants - Tyra Richard Theknath: 74,13,333 warrants - Promoter and Promoter Group holding now: 50.92% - On full warrant conversion (diluted): 54.70% - Stake up 3.78 percentage points Issue price of ₹18 sits in line with where the stock has been trading. No deep discount to insiders, which is the cleaner way to run a promoter preferential. The next generation (Thea, Tyrus, Tyra) writing the cheque points to succession-level commitment. ONE FLAG WORTH NOTING Of Dax Francis Theknath's 96,18,000 shares, 61,80,000 (64%) are pledged. That is roughly 13% of total equity locked as collateral. Promoter intent here reads positive, but the pledge overhang keeps this short of an unqualified signal. Disclaimer: LNPR Capital is a SEBI Registered Research Analyst (RA No: INH000012953). This post is for educational and informational purposes only and is not investment advice or a recommendation to buy/sell any security.