Press Release titled "Asian Energy Services Limited (AESL) completes warrants conversion, Raises Rs. 92.03 crore by Issuing 36.63 lakh shares".
ASIANENE · price
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Asian Energy Services Limited has successfully completed the conversion of 36.62 lakh convertible warrants, raising Rs. 92.03 crore. The warrants were originally allotted in November 2024 at Rs. 335 per share (with 25% upfront subscription and 75% exercise price at conversion). Total capital raised since November 2024 amounts to Rs. 131.03 crore. The funds will be used to strengthen the balance sheet and fund growth opportunities including operations and maintenance services, material handling plants, and integrated field development projects in the oil and gas sector. 28 non-promoter allottees participated, including notable investors like Ashish Kacholia, Everest Finance & Investment Company, and Titagarh Enterprises Ltd.
The warrant conversion strengthens the company's equity base and provides financial flexibility for funding high-growth projects in the energy sector. Strong investor participation from prominent names signals confidence in the company's long-term growth prospects.