Clarifies use of Rs 50 crore preferential warrant proceeds
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The company clarified the proposed preferential issue of 2.50 crore convertible equity warrants, approved on September 30, 2026. Expected proceeds are Rs 50 crore: Rs 25 crore to acquire 64.10 percent of YDPL and Rs 25 crore for real estate projects by Shree Ram Samarth Build Tech LLP. Warrant proceeds are expected within 18 months, with deployment within three months of receipt and allocations varying by up to 10 percent.
The clarification reduces uncertainty over fund use, but conversion of 2.50 crore warrants can dilute existing shareholders and affect stock sentiment.