Board approves preferential share and warrant issuance under Resolution Plan

The board approved issuing equity shares and convertible warrants on a preferential basis as part of an NCLT-approved Resolution Plan under the IBC. Up to 12 lakh shares (Rs 2.7 crore) will go to the promoter, 73 lakh shares (Rs 16.42 crore) to 10 public investors, and 60 lakh convertible warrants (Rs 13.5 crore) to 3 public investors, all at Rs 22.50 per share. Additionally, 1.10 crore shares will be issued to shareholders of a merged entity at a 436:100 ratio.