Sambhv Steel Tubes Allots 86.95 Lakh Warrants at ₹115 Each

Sambhv Steel Tubes Limited has approved the allotment of 8,695,400 fully convertible equity warrants at a price of ₹115 per warrant on a preferential basis. The company has received ₹28.75 per warrant (25% of the issue price) as subscription consideration, totaling ₹24.99 Crore. The remaining ₹86.25 per warrant is payable upon conversion, which must occur within 18 months. This issuance is a preferential issue on a private placement basis and does not immediately change the company's paid-up equity share capital. The warrants are convertible into one equity share of face value ₹10 each.