Board approves preferential issue of shares and warrants worth about 558 crore
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Board approved preferential issue of up to 8,66,434 equity shares at Rs 1,430 each (about Rs 124 crore) and up to 30,35,711 convertible warrants at Rs 1,430 each (about Rs 434 crore). Total potential raise around Rs 558 crore at SEBI floor price to 104 allottees, including Motilal Oswal (Rs 75 crore in warrants). Promoter holding to fall from 74.89 to 66.46 percent. Subject to shareholder approval.
Up to about 14 percent equity dilution if fully subscribed, with warrants adding further dilution. EGM approval still needed.