New Delhi, March 30 Black Box, a digital infrastructure solutions provider and a firm within the Essar Group, announced on Monday that it had raised ₹386.36 crore through the conversion of warrants into equity shares, with promoters contributing ₹200 crore to the total investment.
According to a regulatory filing, the company converted over 92.65 lakh warrants at an issue price of ₹417 per share.
"Black Box Limited… today announced the successful receipt of ₹386.36 crore following the conversion of warrants issued on September 27, 2024…All warrant holders have exercised their rights fully, with no forfeiture or withdrawal."
"Promoters meaningfully participated in the issue, contributing ₹200 crore, representing 51.76 per cent of the total investment," the filing stated.
Following the conversion, the promoter's shareholding in the company has increased to 69.99 per cent.
Black Box CEO Sanjeev Verma said that the capital infusion strengthens the company's balance sheet and provides flexibility to accelerate its growth agenda, scale its digital infrastructure capabilities, and expand its market presence.