Raising of Funds
Price
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Awaiting price reaction for this filing.
GHV Infra Projects (formerly Sindu Valley Technologies) reported its first full year of operations after a major ownership change in late 2024. FY25 revenue from operations stood at Rs 184.88 crore (vs nil in FY24), with net profit of Rs 17.15 crore compared to a Rs 0.43 crore loss in the previous year; EPS was Rs 35.47. The Board approved issuing up to 38.5 lakh convertible warrants (25 lakh to promoter JHV Commercials LLP, 13.5 lakh to non-promoters) on a preferential basis, and up to Rs 160 crore via Optionally Convertible Debentures (16,000 OCDs at Rs 1 lakh each) carrying an 18% coupon and 18-month tenure. Statutory auditor Manubhai & Shah LLP issued an unmodified opinion. An EGM is scheduled for June 28, 2025 to seek shareholder approval.
Despite strong headline profits, operating cash flow was sharply negative at Rs -55.6 crore due to a Rs 133+ crore surge in trade receivables, signalling potential collection risk. The Rs 160 crore OCD issue and 38.5 lakh warrants to promoters will meaningfully dilute existing public shareholders and sharply raise leverage versus the current Rs 42.6 crore equity base.