Dear Sir/ Madam, This is to inform the exchange that Board of Directors at their meeting held today i.e. Tuesday, 29th April 2025, have approved fund raising of up to Rs. 25,00,00,000(Twenty-Five ....
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The Board of Directors of Avance Technologies Ltd, at a meeting held on 29th April 2025, approved a proposal to raise up to Rs. 25 Crores through the issue of convertible equity warrants on a preferential allotment/private placement basis. The exact number of securities and the identities of the allottees have not yet been finalized and will be communicated to the exchange at a later date. Each warrant, once allotted, can be converted into equity shares within 18 months from the date of allotment. If the warrants are not converted within this period, the application money paid will be forfeited. The meeting lasted only 30 minutes (6:45 p.m. to 7:15 p.m.).
This fund raise will dilute existing shareholders when the warrants are eventually converted into equity shares within 18 months. The identity of the allottees and the issue price are still pending, so the exact dilution impact cannot be assessed yet. Retail investors should watch for further disclosures on pricing and who the allottees are, as this will determine how favourable or dilutive the deal is for current shareholders.