Aeroflex Neu Limited (Formerly known as Sah Polymers Limited) has informed the Exchange regarding allotment of 7200000 convertible warrants at its Board meeting held on July 25, 2025
AERONEU · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Aeroflex Neu Limited (formerly Sah Polymers Limited) has allotted 72 lakh convertible warrants at Rs. 90 per warrant (face value Rs. 10), aggregating to Rs. 64.80 crores, on a preferential basis. Each warrant is convertible into one equity share within 18 months. Allottees include Aeroflex Enterprises Limited (promoter group) with 36 lakh warrants, and two non-promoter investors — Benani Capital Scheme-1 and VPK Global Venture Fund-Scheme-1 — with 6 lakh warrants each. An upfront amount of 25% of the issue price has already been received from the investors. Post full conversion, the promoter's stake will be around 54.30% and VPK Global Venture Fund will hold 1.85% in the company.
This preferential warrant issuance will dilute existing shareholders upon conversion, though the promoter group is the largest allottee which helps consolidate their holding. The 18-month conversion window means full equity dilution is spread out, and the Rs. 64.8 crore inflow (when fully converted) can be used for business expansion or debt reduction — though the company has not specified the end use of funds in this filing.