Sharvaya Metals to Raise ₹11.67 Cr via Warrants, ₹30.24 Cr via Share Swap

Sharvaya Metals Limited's Board of Directors has approved a plan to raise funds through a combination of fully convertible warrants and a preferential issue of equity shares on a private placement basis. The company will issue up to 8,11,000 warrants at INR 144 each, aggregating to INR 11,67,84,000 (INR 11.67 Crore), with a right to subscribe to equity shares within 18 months. Additionally, the company will issue up to 21,00,000 equity shares at INR 144 each, totaling INR 30,24,00,000 (INR 30.24 Crore), through a share swap for acquiring 100% of Success Electronics Private Limited. This acquisition will be on a non-cash consideration basis, with 21 equity shares of Sharvaya Metals for every 2 equity shares of Success Electronics. The company also approved an increase in its authorized share capital, subject to shareholder approval.