Highway Infra Increases Auth. Capital, Approves ₹498 Cr Warrant Issue

Highway Infrastructure Limited's Board of Directors has approved an increase in the company's authorized share capital from ₹40 Crore to ₹50 Crore. Additionally, the board has approved the issuance of up to 1,00,00,000 warrants to the Promoter and Promoter Group, convertible into equity shares within 18 months, at a price of ₹49.82 per warrant, aggregating up to ₹49,82,00,000 (₹498.20 Crore). The warrant holders will pay 25% upfront. The company also proposed to acquire a 51% stake in Indore Highway Real Estates Private Limited for ₹38,98,695. These proposals are subject to shareholder and regulatory approvals. An EGM notice has been approved to seek shareholder consent.