Servotech Renewable Power System Limited has informed the Exchange regarding Appointment of Mr Anup Kumar Ghosh as an Internal Auditor of the company w.e.f. Jun 27, 2025.
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Servotech Renewable Power System's board approved the conversion of 10,00,000 warrants into equal equity shares at Rs. 83.40 each (including Rs. 82.40 premium), allotted to Coeus Global Opportunities Fund (non-promoter), bringing in Rs. 6.255 crore. With this conversion, all 89,00,000 warrants issued earlier in January 2024 have now been fully converted, leaving none outstanding. The company's paid-up capital rose from Rs. 22.48 crore to Rs. 22.58 crore. Separately, Dr. Yogita Patra was appointed as an Additional Non-Executive Woman Independent Director for five years, and Mr. Anoop Kumar Ghosh was appointed as Internal Auditor for FY 2025-26. The board also approved a postal ballot seeking shareholder approval to raise the borrowing limit up to Rs. 600 crore and create charges up to the same amount.
The warrant conversion is now fully completed, removing overhang from potential dilution, though Coeus's stake rose to 0.88%. The Rs. 600 crore borrowing authorization signals potential future debt-raising plans pending shareholder approval, which could fund expansion but also increase leverage.