Mumbai, July 31 -- Each warrant is priced at Rs 316.50 and will be convertible into one fully paid-up equity share of Rs 10 each at a premium of Rs 306.50. The conversion can take place in one or more tranches within 18 months from the date of allotment. Any unconverted warrants after the deadline will lapse, and the amount paid by the warrant holders will be forfeited.

The preferential issue is being made on a private placement basis to two promoter group companies, Sikka Ports & Terminals and Jamnagar Utilities and Power. Post-conversion, the promoter group's total stake could rise from 3.10% to 10.17%, reflecting a significant increase in promoter commitment.

Sikka Ports' holding could jump from 1.08% to 4.65%, while Jamnagar Utiliti...