Xpro India Limited has informed the Exchange about 'Allotment of Equity Shares pursuant to exercise of warrants allotted on preferential basis'
XPROINDIA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Xpro India Limited has allotted 9,30,000 equity shares of face value INR 10 each to 7 warrant holders who exercised their warrants, originally issued on January 29, 2024 at INR 975 per warrant. The company received INR 5,893.88 lakhs as the balance 65% payment (INR 633.75 per warrant) from these holders, with each share allotted at a premium of INR 965. Prominent investors include Malabar India Fund (2 lakh warrants), Malabar Select Fund (2 lakh), and Malabar Midcap Fund (1 lakh), along with three individuals and Evoke Management Services LLP. Following this allotment, the company's paid-up equity capital has risen to INR 23.23 crore comprising 2,32,30,391 shares. A further 2,40,000 warrants remain unexercised, with the last date for conversion being July 28, 2025.
This is a positive development as it shows strong commitment from institutional investors (Malabar Funds) and promoters/associates, bringing in nearly INR 59 crore of capital and strengthening the equity base. Shareholders may see mild dilution (~4% increase in share count from this tranche), but the premium pricing reflects investor confidence in the company's valuation.