Aequs allots 28.07 million convertible warrants to promoter trustee
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Aequs allotted 28,071,690 convertible warrants to Mellwood Trustee Services, acting for the promoter's family foundation, at INR 231.55 each. The issue totals INR 6.50 billion; 50 percent was paid upfront and the balance is due upon conversion by December 31, 2027. Full conversion would add 28.07 million shares and raise promoter ownership from 14.99 percent to 18.40 percent.
Promoter funding supports liquidity. Voting rights stay unchanged until conversion, when share count rises 4.19 percent, diluting existing holders.