Kross Limited Approves Preferential Issue of Equity Shares and Warrants Worth ₹63.6 Crore
Kross Limited approved raising ₹31.80 crore via preferential issue of 15 lakh equity shares and ₹31.80 crore via 15 lakh convertible warrants. Warrants are convertible within 18 months. Remote e-voting for shareholders begins Sept 1, 2026, and ends Sept 30, 2026.
The preferential issue and warrant issuance represent a substantial fundraising amount (₹63.6 crore in total) which can significantly impact the company's capital structure, financial flexibility, and future growth prospects. The involvement of promoters in warrant issuance and specific non-promoters in equity issuance also indicates strategic investor confidence.
The company is undertaking a significant fundraising through preferential allotment of equity shares and convertible warrants, which is generally viewed positively as it can strengthen the company's financial position and fund growth initiatives.
Kross Limited announced today, August 31st, 2026, that its Board of Directors has approved a significant fundraising initiative through a preferential issue. The company plans to issue up to 15,00,000 fully paid-up equity shares at an issue price of ₹212 per share, including a premium of ₹207. This move is expected to raise ₹31.80 crore.
Additionally, the Board has approved the issuance of up to 15,00,000 convertible warrants, also at ₹212 per warrant with a premium of ₹207, aggregating another ₹31.80 crore. These warrants are convertible into one equity share each and can be exercised at the discretion of the warrant holder within eighteen months from the allotment date. The upfront payment for these warrants will be 25% of the issue price, with the remaining 75% payable upon exercise. The equity shares will be allotted to non-promoters Rathore Gauravrajsingh Vijaysingh, Dhruv Agarwal, Saroj V Rathore, and Richa Gauravrajsingh Rathore, while the warrants will be issued to promoters Sumeet Rai and Kunal Rai.
The company also announced the approval of a Postal Ballot notice, enabling shareholders to cast their votes electronically via remote e-voting. The remote e-voting period will commence on Tuesday, September 1st, 2026, at 09:00 AM and conclude on Wednesday, September 30th, 2026, at 05:00 PM. Mr. Sital Prasad Swain has been appointed as the scrutinizer for the e-voting process. The Board meeting, which began at 11:00 AM, concluded at 12:33 PM.
A plain-language summary of a public exchange filing by Kross Limited. Read the original for the full detail.