Servotech Renewable Power System Limited has informed the Exchange regarding allotment of 1000000 securities pursuant to Preferential Issue at its meeting held on Jun 27, 2025
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Servotech Renewable Power System's board, at its meeting on June 27, 2025, approved the allotment of 10,00,000 equity shares of Re. 1 each at Rs. 83.40 per share (including a premium of Rs. 82.40) to Coeus Global Opportunities Fund, a non-promoter entity. These shares were issued upon conversion of an equal number of warrants, with the company receiving Rs. 6.25 crore (75% of the issue price). This completes the conversion of all 89,00,000 warrants originally allotted in January 2024, with no warrants now outstanding. Post-allotment, the company's paid-up equity capital rose from Rs. 22.48 crore to Rs. 22.58 crore, and Coeus Global Opportunities Fund's holding increased to 20,00,000 shares (0.88%). The board also approved the appointment of a new woman independent director, an internal auditor, and borrowing powers up to Rs. 600 crore, subject to shareholder approval via postal ballot.
This is a routine warrant-to-equity conversion with no fresh capital infusion beyond the 75% amount already due. The Rs. 600 crore borrowing authorization signals potential future fundraising or debt expansion, which could be material for shareholders to watch. Shareholding remains largely unchanged with only minor dilution.