Board okays Rs 85 Cr warrants issue, name change to Singlon Limited
SURANI · price
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On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board approved raising up to Rs 85 crore via fully convertible warrants on a preferential basis at Rs 102 per share (Rs 92 premium), following SEBI pricing rules. Also approved changing the company name from Surani Steel Tubes Limited to Singlon Limited, subject to approvals. An EGM is scheduled on October 30, 2026 to seek shareholder approval for both items.
Up to Rs 85 Cr fund raise may dilute equity if warrants convert; name change and approvals pending shareholder nod at October 30 EGM.