SAB Events to Raise Funds via Equity & Warrants
SAB Events & Governance Now Media Ltd's Board of Directors has approved a plan to raise funds through the issuance of equity shares and convertible warrants. This is in accordance with a Resolution Plan approved by the Hon'ble National Company Law Tribunal (NCLT). The company will issue up to 12,00,000 equity shares to its promoter, Sri Adhikari Brothers Assets Holdings Private Limited, for ₹2.70 crore. Additionally, up to 73,00,000 equity shares and up to 60,00,000 convertible warrants will be issued to strategic investors for ₹16.42 crore and ₹13.50 crore, respectively. The company will also issue 1,10,34,070 equity shares to shareholders of Sri Adhikari Brothers Digital Network Private Limited as part of a Scheme of Amalgamation. The issuance is subject to requisite statutory and regulatory approvals.
Key Highlights
- Board approves preferential issuance of equity shares and warrants.
- Funds to be raised from promoter and strategic investors.
- Includes issuance of equity shares as part of a merger scheme.
- Total fundraising via equity and warrants exceeds ₹32 crore.
- Proceeds to be utilized as per NCLT-approved Resolution Plan.
Price Impact
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