Board approves up to ₹188.13 crore convertible warrant issue
WINDMACHIN · price
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Board approved a preferential issue of up to 6.25 million convertible warrants at ₹301 each, worth up to ₹188.13 crore. Each can convert into one ₹2 face-value equity share within 18 months. Two non-promoter investors would receive 5 million and 1.25 million warrants. Investors pay 25% upfront and 75% on conversion; unconverted warrants lapse. Shareholder approval is sought on December 5, 2026.
Potential dilution of up to 5.70% on full conversion; the company could receive about ₹188.13 crore if all warrants are exercised.