NIBE Limited Allots 15.62 Lakh Warrants & 4.4 Lakh Equity Shares
NIBE Limited approved the allotment of 15.62 lakh warrants and 4.4 lakh equity shares on a preferential basis. The company raised ₹49.12 crore via warrants and ₹55.35 crore via equity shares, totaling ₹104.48 crore. This increases the paid-up capital to ₹14.94 crore.
The preferential allotment and warrant issuance will increase the company's equity base and provide funds, which can be used for growth initiatives. This is a material event for the company.
The company has successfully raised significant capital through the allotment of warrants and equity shares on a preferential basis, which is generally viewed positively by the market as it strengthens the company's financial position.
NIBE Limited has approved the allotment of 15,62,000 Convertible Warrants and 4,40,000 Equity Shares on a preferential basis. The warrants are priced at ₹1258 each, with an upfront payment of ₹314.50 per warrant, aggregating to ₹49.12 crore. Each warrant is convertible into one fully paid-up equity share within 18 months.
Additionally, 4,40,000 equity shares of face value ₹10 each have been allotted at an issue price of ₹1258 per share, raising ₹55.35 crore. The total amount raised from these allotments is ₹104.48 crore.
Following this allotment, the company's issued, subscribed, and paid-up equity share capital has increased from ₹14.50 crore to ₹14.94 crore. NIBE Limited will apply to the stock exchanges for the listing and trading approval of these equity shares.
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NIBE Limited filed this with the NSE as a statutory disclosure, categorised under equity fundraising. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by NIBE Limited. Read the original for the full detail.