Corporate Action17 Jul 2026, 07:10 pm
Affordable Robotic & Automation Ltd Approves Warrant Issue
AI Summary
Affordable Robotic & Automation Ltd's Board of Directors approved the preferential issuance of 10,93,750 Fully Convertible Warrants to promoter Mr. Milind Padole. The issue price is Rs 192 per warrant, with a premium of Rs 182. This issuance is against the conversion of an outstanding loan of Rs 21 crore advanced by the promoter, which will extinguish the corresponding loan liability. Each warrant is convertible into one equity share of Rs 10 each within 18 months. The board also approved a postal ballot notice for seeking shareholder approval.
Key Highlights
- Board approved preferential issue of 10,93,750 warrants to promoter.
- Warrants issued at Rs 192 each, converting a ₹21 crore loan.
- Loan liability will be extinguished upon warrant conversion.
- Warrants convertible into equity shares within 18 months.
- Postal ballot notice approved for shareholder e-voting.
Price Impact
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