Board approves capital raise up to Rs 492 crore plus merger of subsidiary
MCLOUD · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Board approved preferential issue of 3.74 crore equity shares to non-promoters at Rs 30 each, raising about Rs 112.29 crore, plus 12.67 crore convertible warrants to promoters and non-promoters worth Rs 380.10 crore. NRI investment ceiling raised from 10% to 24%. Also approved loans or guarantees up to Rs 150 crore each to three subsidiaries under Section 185. Approved scheme to merge wholly-owned subsidiary IVIS International into the company, with appointed date April 1, 2026. EGM set for July 24, 2026.
Significant equity dilution possible from preferential issue and warrant conversion, but subsidiary merger causes no dilution. Capital raise may fund growth.