Aeroflex Enterprises Limited has informed the Exchange regarding 'Revised Intimation - Allotment of Convertible Warrants by Subsidiary Company'.
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Aeroflex Enterprises' subsidiary, Aeroflex Neu Limited (formerly Sah Polymers Limited), has allotted 72 lakh convertible warrants at ₹90 per warrant, with each warrant convertible into one equity share of face value ₹10. The warrants were issued to both promoter and non-promoter categories under the Companies Act, 2013 and SEBI ICDR Regulations. Notably, the parent company Aeroflex Enterprises itself subscribed to 36 lakh of these warrants. The revision corrects an earlier typographical error where the amount in words was wrongly stated. Proceeds will be used for business expansion and future growth of the subsidiary.
This is a capital-raising move at the subsidiary level that may dilute existing shareholders if warrants are eventually converted, though it signals confidence from both the parent and promoters in the subsidiary's growth. For Aeroflex Enterprises shareholders, the ₹32.4 crore deployment into subsidiary warrants ties up capital but backs the growth story of Aeroflex Neu Limited.