Asian Energy Services Ltd has announced plans to raise ₹160.8 crore through the issuance of fully convertible equity warrants. The company’s board of directors approved the fundraising initiative on Tuesday.
The board has approved the issue of 48 lakh fully convertible equity warrants, each priced at ₹335. These warrants will allow holders to subscribe to one equity share, with a face value of ₹10 and a premium of ₹325. The total capital raised from this issuance will be ₹160.8 crore.
The warrants will be offered to both promoter and non-promoter categories, with the final terms set by the board. The pricing is in line with the Securities and Exchange Board of India’s regulations. The fundraising is subject to approval from shareholders and other regulatory bodies.
Shares of Asian Energy Services Ltd closed at ₹432.05, up by ₹8.85, or 2.09%, on the BSE.
