Board approves 5 lakh convertible warrants to promoter at INR 147.39 each

Warrants ConvertedFund Raising View source PDF

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+0.9%1-day move

₹150.45

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AI summary

Board approved issuing up to 5,00,000 fully convertible warrants to promoter Ashwani Khemka at INR 147.39 each, raising up to INR 7.37 crore on preferential basis. Warrants convert into equity within 18 months. Promoter holding rises from 29.88% to 32.62% post-allotment. Also approved a material related party transaction with subsidiary SPL Infusion Pvt Ltd and a postal ballot notice for shareholder approval.

Likely market impact

Promoter capital infusion signals confidence; potential equity dilution in 18 months if warrants are converted. Subject to shareholder approval.