Corporate Action12 Oct 2026, 02:24 pm
Garg Furnace Allots 13.98 Lakh Warrants for ₹17.68 Cr
AI Summary
Garg Furnace Limited's Board of Directors has approved the allotment of 13,98,000 warrants convertible into equity shares on a preferential basis. The issue price is ₹126.50 per warrant, aggregating to ₹17,68,47,000 (₹17.68 Crore). The company has received ₹4,42,11,750 (₹4.42 Crore) as warrant subscription price, representing 25% of the issue price. The warrants are convertible into equity shares of face value ₹10 each upon payment of the balance consideration. The allotment is to persons belonging to both promoter and non-promoter groups.
Key Highlights
- Board approved allotment of 13.98 lakh warrants.
- Total issue size for warrants is ₹17.68 Crore.
- Received ₹4.42 Crore as initial subscription amount.
- Warrants convertible to equity shares at ₹126.50 each.
- Allotment includes promoter and non-promoter group.
Price Impact
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