This decision is subject to requisite approvals, including that of the company’s shareholders. Veteran investor Ashish Kacholia has also been issued warrants in this fundraising exercise.
The fundraising plan includes the issuance of up to 2.89 crore equity shares with a face value of ₹10 each at an issue price of ₹138 per share, inclusive of a premium of ₹128 per share, worth ₹400 crore. These shares will be allocated to ‘Non-Promoter’ entities.
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Additionally, the company plans to issue up to 4.48 crore convertible warrants, each carrying the right to subscribe to one equity share of face value ₹10 at a price of ₹145 per warrant, inclusive of a premium of ₹135 per equity share.
The exercise price for these warrants aggregates up to ₹650 crore. These warrants will be issued to both ‘Promoter/ Promoter Group’ and ‘Non-Promoter’ entities and can be converted into equity shares over a period of 18 months from the date of allotment.
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Shares of Inox Green Energy Services Ltd ended at ₹180.50, up by ₹8.75, or 5.09% on the BSE.
First Published: Jun 26, 2024 10:17 PM IST