Seshachal Technologies to Raise Funds via Fully Convertible Warrants

Seshachal Technologies Ltd announced that its Board of Directors has approved the creation, issuance, and allotment of up to 1,13,63,637 fully convertible warrants to non-promoter public category investors. The warrants, convertible into equivalent number of fully paid-up equity shares, will be issued at a price of Rs. 22/- per warrant, raising an aggregated amount of up to Rs. 25,00,00,014. The decision is subject to shareholders' and other regulatory authorities' approval. The warrants' tenure is 18 months from the date of allotment, after which unexercised warrants will lapse, and the amount paid will be forfeited.