Board okays preferential issue of shares and warrants worth about Rs 566 crore

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AI summary

Board approved preferential issue of 55 lakh equity shares at Rs 55.03 each (about Rs 30.30 crore) and 9.73 crore warrants at Rs 55.03 each (about Rs 535.80 crore). Warrants convertible into shares within 18 months. Investors include BNG Investment LLC, Northstar Opportunities Fund, Bridge India Fund and others. Also approved ESOP 2026 covering 50 lakh shares. EGM on October 7, 2026.

Likely market impact

Major dilution potential up to about Rs 566 cr. Shareholders to vote on October 7. May pressure stock near-term.