What happened
FactThe board approved, subject to member approval, an increase in authorised share capital from Rs. 200,00,00,000/- to Rs. 250,00,00,000/-. It also approved preferential issues of equity shares and convertible warrants at Rs. 5/- each, including a share swap linked to purchase consideration for 21.62% shareholding of Automech Holding Group, and amended the SPA for the proposed Automech Group Holding Limited acquisition.
Rs. 250,00,00,000/-Authorised share capital
proposed authorised share capital, subject to member approval
up to 28,00,00,000 Equity Shares at Rs. 5/- each, aggregating to Rs. 140,00,00,000/-Equity shares for cash preferential issue
proposed preferential issue under promoter/promoter group and non-promoter categories
up to 33,28,00,000 Equity Shares at Rs. 5/- each, aggregating to Rs. 166,40,00,000/-Equity shares for share swap
proposed share-swap issue toward purchase consideration for 21.62% shareholding of Automech Holding Group
up to 8,00,00,000 Warrants at Rs. 5/- each, aggregating up to Rs. 40,00,00,000/-Convertible warrants
proposed preferential warrant issue to persons in the promoter category