Avalon Technologies to issue 19.37 Lakh warrants worth ₹425 Cr

Avalon Technologies Ltd announced that its Board of Directors has approved the preferential issuance of up to 19,37,808 warrants at an issue price of ₹2,193.20 each, aggregating up to ₹425,00,00,505.60 (₹425 Crore). These warrants are convertible into one fully paid-up equity share each and can be exercised within 18 months. The company also approved alterations to its Articles of Association to permit the issue of such securities. An Extraordinary General Meeting (EGM) will be convened on November 21, 2026, to seek shareholder approval. Crisil Ratings Limited has been appointed as the Monitoring Agency for the proceeds of this preferential issue.