SAB Events Board Approves Equity & Warrant Issuance Post NCLT Plan
SAB Events & Governance Now Media Ltd's Board of Directors has approved the issuance of equity shares and convertible warrants as part of a Resolution Plan sanctioned by the National Company Law Tribunal (NCLT). The company will issue up to 12,00,000 equity shares to a promoter entity and up to 73,00,000 equity shares to strategic investors at Rs. 22.50 each. Additionally, up to 60,00,000 convertible warrants will be issued to strategic investors at the same price, with 25% payable upfront. The board also approved the issuance of 1,10,34,070 equity shares to shareholders of Sri Adhikari Brothers Digital Network Private Limited as part of an amalgamation scheme. These issuances are crucial for the company's financial restructuring and future growth.
Key Highlights
- Board approves preferential issuance of equity shares to promoter and strategic investors.
- Convertible warrants to be issued to strategic investors, with partial upfront payment.
- Equity shares to be issued to shareholders of Sri Adhikari Brothers Digital Network as part of amalgamation.
- All issuances are in accordance with the NCLT-approved Resolution Plan.
- Total fundraising potential from equity and warrants exceeds ₹300 crore.
Price Impact
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