Sejal Glass approves Rs 94.35 crore preferential share and warrant issue
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The board approved raising up to Rs 94.35 crore through a preferential issue: 1.3 million shares at Rs 555 each for Rs 72.15 crore, plus 400,000 convertible warrants at Rs 555 for Rs 22.20 crore. Warrants convert one-for-one into shares within 18 months, with 25 percent paid upfront. The price is above the regulatory minimum. Approvals are pending.
The issue can raise funds without debt, but full warrant conversion would add 1.7 million shares and dilute existing ownership by about 14.4 percent.