Avonmore Capital & Management Services Limited has informed the Exchange regarding Outcome of Board Meeting held on August 13, 2025.
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At its board meeting on August 13, 2025, Avonmore Capital approved issuing up to 3.77 crore fully convertible warrants to the promoter and promoter group on a preferential basis, at Rs. 19.85 per warrant (face value Rs. 1), aggregating up to Rs. 74.83 crore. The four allottees are Innovative Money Matters Pvt Ltd, Rakam Infrastructures Pvt Ltd, Mr. Navjeet Singh Sobti, and Mrs. Gurpreet Sobti. Each warrant is convertible into one equity share, with 25% of the consideration payable upfront and the balance 75% at the time of conversion, exercisable within 18 months. The issue is subject to shareholder approval at an Extra-Ordinary General Meeting scheduled for September 9, 2025, and other regulatory clearances.
Existing public shareholders face potential dilution if all warrants are converted, while the promoter group's stake will rise — for instance, Innovative Money Matters' holding is set to increase from 33.14% to 38.05%. The capital raise signals promoter confidence in the business but still needs shareholder nod at the upcoming EGM.