India, May 4 -- Steel Exchange India Limited has announced capital-raising initiatives totalling Rs 40.32 crore through a combination of fresh warrant allotment and conversion of existing warrants, aimed at strengthening its financial position.
The company approved the preferential allotment of 4.4 crore convertible equity warrants at Rs 9.45 each, raising Rs 10.40 crore upon receipt of 25% of the subscription amount. Additionally, it converted 2.82 crore existing warrants into equity shares after receiving the balance subscription amount of Rs 29.92 crore.
The move is expected to enhance the company's capital base and financial flexibility, supporting expansion plans, improving working capital efficiency, and enabling strategic growth in...