22.42 crore convertible warrants allotted through preferential issue
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The board allotted 22.42 crore warrants to 14 investors at Rs 2.23 each for about Rs 500 crore. Investors paid 25 percent, or Rs 12.50 crore, upfront; the Rs 37.50 crore balance is due within 18 months. Each warrant converts into one Rs 1 share. The company also proposed renaming itself Amaxis Global Limited.
If all warrants convert, allottees would hold about 36.8 percent, diluting existing holders; no shares are issued yet.