Servotech Renewable Power System Limited has informed the Exchange regarding Board meeting held on Jun 27, 2025.
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Servotech Renewable Power System's board, meeting on June 27, 2025, approved the conversion of 10,00,000 warrants into equity shares by Coeus Global Opportunities Fund (non-promoter) at Rs. 83.40 per share, bringing in Rs. 6.25 crore. This completes the conversion of all 89,00,000 warrants originally allotted in January 2024, and the company's paid-up capital rose to Rs. 22.58 crore. The board also appointed Dr. Yogita Patra as an additional woman independent director for five years and Mr. Anup Kumar Ghosh as internal auditor for FY 2025-26. Additionally, the board approved raising borrowings of up to Rs. 600 crore and creating charges to that extent, subject to shareholder approval via postal ballot. The postal ballot also covers regularization of two other director appointments.
The final warrant conversion is mildly dilutive but the cash is already in the company; with no warrants outstanding, the overhang is gone. The bigger near-term watchpoint is the Rs. 600 crore borrowing limit — if approved by shareholders, it signals aggressive growth or expansion plans that could lift future debt levels meaningfully.