Kross Limited Seeks Shareholder Approval for Preferential Issue of Equity Shares & Warrants Worth ₹63.6 Crore
Kross Limited is seeking shareholder approval via postal ballot for a preferential issue of equity shares and convertible warrants. The company plans to raise up to ₹31.80 crore through equity shares and ₹31.80 crore via warrants, totaling ₹63.6 crore. E-voting begins September 1, 2026, and ends September 30, 2026.
The preferential issue of equity shares and warrants, amounting to a substantial ₹63.6 crore, is expected to have a significant impact on the company's capital structure, financial flexibility, and potential for future growth.
The company is undertaking a significant fundraising initiative through preferential allotment of equity shares and warrants, which is generally viewed positively as it can fuel growth and expansion.
Kross Limited has announced a postal ballot notice dated August 31, 2026, seeking shareholder approval for two significant proposals: the issuance of equity shares and convertible warrants on a preferential basis.
The company plans to issue up to 15,00,000 equity shares at an issue price of ₹212 per share, aggregating up to ₹31.80 crore. The proposed allottees for these shares include Rathore Gauravraj Singh Vijaysingh, Dhruv Agarwal, Saroj V Rathore, and Richa Gauravraj Singh Rathore, all categorized as Non-Promoters.
Additionally, Kross Limited intends to issue up to 15,00,000 convertible warrants at an issue price of ₹212 per warrant, also aggregating up to ₹31.80 crore. These warrants are convertible into equity shares within 18 months from the date of allotment. The proposed allottees for the warrants are Sumeet Rai and Kunal Rai, both categorized as Promoters.
The remote e-voting period for shareholders will commence on September 1, 2026, and conclude on September 30, 2026. The results of the postal ballot are expected to be announced on or before October 3, 2026. National Securities Depository Limited (NSDL) has been appointed to facilitate the e-voting process.
A plain-language summary of a public exchange filing by Kross Limited. Read the original for the full detail.