Dear Sir/Madam, Kindly find enclosed herewith outcome of Board meeting of fund raising of up to Rs. 25,00,00,000 through preferential allotment of convertible equity warrants. Kindly ....
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Awaiting price reaction for this filing.
The Board of Directors of Avance Technologies, at its meeting on 29th April 2025, approved raising up to Rs. 25 crore by issuing convertible equity warrants through a preferential allotment or private placement route. The number of securities, issue price, and names of allottees are yet to be finalized and will be communicated later. Each warrant can be converted into equity shares within 18 months from the date of allotment, failing which the application money will be forfeited. The company has not disclosed the purpose of fund utilization or identity of potential investors at this stage.
This is a dilutive fund-raising move — if fully converted, existing shareholders will see their equity stake reduced. The 18-month conversion window and lack of disclosed allottees or pricing keep the impact uncertain, and the stock may see short-term volatility until further details are shared.