Board Meeting24 Jul 2026, 07:40 pm
Spectrum Electrical Industries Ltd Plans Preferential Issue
AI Summary
Spectrum Electrical Industries Limited announced the outcome of its Board Meeting held on July 24, 2026. The board approved a preferential issue comprising up to 13,73,625 equity shares and up to 2,49,750 convertible warrants. The equity shares will be issued at ₹2,002 each, aggregating up to ₹274.99 crore. The convertible warrants will also be issued at ₹2,002 each, with an upfront payment of ₹500.50 per warrant, aggregating up to ₹49.99 crore. These issuances are subject to shareholder approval at an EGM scheduled for August 20, 2026. The relevant date for the preferential issue is July 21, 2026.
Key Highlights
- Board approved preferential issue of equity shares and warrants.
- Total equity share issue aims to raise up to ₹274.99 crore.
- Warrant issue aims to raise up to ₹49.99 crore.
- Shareholder approval sought at EGM on August 20, 2026.
- Issue price for shares and warrants set at ₹2,002 each.
Price Impact
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