Shares of Eraaya Lifespaces (ERAAYA) surged 5% to hit the upper circuit at ₹1,096.75 on the BSE as of 10:25 AM. This rally follows the company’s announcement of a ₹1,028.7 crore fund-raising plan via preferential issue, approved by its board on September 4, 2024.
The company plans to issue up to 1,27,00,000 Compulsorily Convertible Warrants at ₹810 per warrant, convertible into an equivalent number of fully paid-up equity shares. These warrants will be issued to both promoter and non-promoter categories.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
