Electrovaya Chairman Boosts Equity Stake to Nearly 24% Through Warrant Exercise

2026-01-21 companies

Mississauga, Wednesday, 21 January 2026.
On January 20, 2026, Electrovaya Chairman Dr. Sankar Das Gupta significantly tightened his grip on the lithium-ion battery manufacturer. By exercising over 1.4 million warrants at just $0.90—a fraction of the stock’s recent trading price near $9.82—he has raised his direct ownership to approximately 23.66%. This strategic move injects roughly $1.28 million into the company and signals robust insider confidence as Electrovaya accelerates its manufacturing expansion in the United States.

Transaction Mechanics and Ownership Data

The transaction, executed on January 20, 2026, saw Dr. Das Gupta exercise 1,420,000 warrants at a strike price of $0.90 per share [1][2]. This price point represents a substantial discount relative to the company’s market performance; as of the transaction date, Electrovaya’s stock was trading at $9.82, hovering near its 52-week high of $9.96 [6]. Following this exercise, the Chairman’s total direct ownership in the company rose from 10,270,751 common shares to 11,690,751 common shares [1][4]. Consequently, his equity stake in the firm increased from 21.40% to approximately 23.66% of the outstanding common shares [1][2]. Dr. Das Gupta retains 605,000 options, which, if exercised, would further elevate his ownership to approximately 24.58% [2][8].

Financial Implications and Market Context

Beyond the consolidation of insider ownership, this warrant exercise provided a direct capital injection into Electrovaya. The transaction generated approximately $1,278,000 in gross proceeds for the company [4][5]. This liquidity event coincides with a period of strong market performance for the battery manufacturer. On January 19, 2026, the day preceding the exercise, Electrovaya’s stock (ELVA) gained 8.04%, adding approximately $36 million to the company’s valuation [4]. Over the past year, the stock has delivered a return of 292.8%, reflecting growing investor interest in the company’s industrial and energy storage solutions [6].

Strategic Expansion and Operational Focus

Electrovaya, headquartered in Mississauga, Ontario, is currently in a critical growth phase centered on its proprietary Infinity Battery Technology [1][2]. The capital and leadership commitment comes as the company advances its manufacturing footprint in the United States. Electrovaya is expanding operations at its 21-hectare site in Jamestown, New York, where it plans to establish its first gigafactory within a 12,728-square-meter facility [2]. This expansion is designed to support the company’s focus on heavy-duty applications, including material-handling equipment, robotic vehicles, and defense sectors [6][7].

Summary of Insider Activity

This warrant exercise underscores a high degree of alignment between Electrovaya’s leadership and its shareholders. By increasing his stake to nearly one-quarter of the company, Dr. Das Gupta has reinforced his position amidst a period of significant valuation growth, with the company’s market capitalization reaching approximately $489 million as of January 19, 2026 [4]. While the Chairman has indicated no immediate plans for further significant changes to his holdings, the retention of over 600,000 options suggests the potential for future equity consolidation [6][8].

Sources

Electrovaya Warrants