Sharvaya Metals to issue 21 Lakh Shares on Preferential Basis

Sharvaya Metals Limited announced that its Board of Directors has approved the issuance and allotment of up to 21,00,000 fully paid-up equity shares at an issue price of INR 144 per share, aggregating to INR 30,24,00,000 (INR 30.24 Crore). This preferential issue is part of a share swap agreement to acquire 100% of Success Electronics Private Limited. The company also approved the creation and issuance of up to 8,11,000 Fully Convertible Warrants at INR 144 each, potentially raising INR 11,67,84,000 (INR 11.68 Crore). These proposals are subject to shareholder and regulatory approvals.