Likhitha Infra board approves 60 crore preferential warrant issue, appoints EDs
LIKHITHA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Board approved issuing up to 25 lakh fully convertible warrants at Rs 240 each on a preferential basis, raising up to Rs 60 crore from 21 allottees. Promoter Likhitha Gaddipati and promoter group Lohitha Gaddipati are among the allottees, with the rest being non-promoters. Each warrant converts into 1 equity share within 18 months, with 25 percent payable upfront. The company also appointed Lohitha Gaddipati and Chandra Dheerajram as Additional Executive Directors for 5 years.
Fund raise may dilute existing shareholders by up to 5.96 percent on full conversion. Promoter family participation signals confidence in the business.