Solex subsidiary to issue Rs 150 Cr CCDs convertible into parent shares
SOLEX · price
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On the reaction day the stock moved 1.7 pts less than Nifty Microcap 250 and 2.0 pts less than its Other Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Solex Energy's wholly owned subsidiary Solex New Energy Private Limited will issue Compulsorily Convertible Debentures (CCDs) worth Rs 150 Crores in one or more tranches. Investors holding these CCDs will have the option to convert them into equity shares of Solex Energy (the parent or holding company), subject to board approval and regulatory compliance. This is a swap-share structure that raises capital at the subsidiary level while potentially leading to equity issuance at the parent level upon conversion.
Potential equity dilution at parent level if CCDs are converted. Watch conversion terms, pricing, and timeline for dilution impact.