Raising of Funds through Preferential Issue
Price
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TeleCanor Global's board approved raising funds through a preferential issue, along with increasing authorised share capital from Rs. 21 crore to Rs. 30 crore. The company plans to issue up to 41 lakh equity shares at Rs. 33 per share (Rs. 10 face value + Rs. 23 premium) to 38 non-promoter allottees, raising up to Rs. 13.53 crore. Additionally, up to 25 lakh fully convertible warrants (convertible within 18 months) will be issued to promoter Mr. Maruti Ram Praturi at the same price of Rs. 33, raising up to Rs. 8.25 crore with 25% upfront payment. Total potential fundraising is around Rs. 21.78 crore. The issue price is at a premium and not below the SEBI floor price. An EGM is scheduled for March 6, 2026, to seek shareholder approval.
Existing shareholders will see dilution of roughly 17% once both the equity shares and warrants are fully allotted. The promoter's stake will rise from 6.84% to 14.62% on full warrant conversion, signalling promoter confidence but also increasing his control. The broad base of 39 non-promoter allottees suggests diversified retail/HUF participation rather than a single marquee institutional investor.