Mumbai, January 28, 2025 – NITCO Limited has announced the allotment of 15.63 crore equity shares and 2.34 crore convertible warrants under a preferential issue, raising approximately ₹620 crore. This move aligns with the resolutions passed at the company's Extraordinary General Meeting (EGM) held on November 15, 2024, and approvals from the BSE and NSE earlier this month.
Key Allotments
- Equity Shares:
- 4.38 crore shares allotted at ₹92.25 per share (including a premium of ₹82.25), raising ₹404.25 crore.
- 11.25 crore shares were issued to Authum Investment & Infrastructure Limited to convert a portion of the company's debt.
- Convertible Warrants:
- 2.34 crore warrants issued at ₹92.25 per warrant to promoter Vivek Prannath Talwar.
- The company received ₹54 crore (25% of the issue price), with the remaining payable upon conversion into equity shares within 18 months.
Impact on Shareholding
- Promoter holding will increase significantly after the conversion of warrants.
- Authum Investment & Infrastructure Limited will hold 44.72% of the total equity, emerging as a key investor.