Investment20 Jun 2026, 05:40 pm
STL Networks Allots 4.5 Cr Warrants to Promoter for ₹108 Cr
AI Summary
STL Networks Ltd announced the allotment of 4,50,00,000 warrants to its promoter, Twin Star Overseas Limited, on a preferential basis. The total value of this allotment is ₹108 crore, with each warrant issued at ₹24. These warrants are convertible into one equity share of face value ₹2 at a premium of ₹22 per share. The allotment is part of a private placement and has received necessary board and shareholder approvals, along with in-principle approvals from BSE and NSE. The warrants can be exercised within 18 months from the allotment date. This move is expected to strengthen the promoter's stake and potentially increase the company's equity base upon conversion.
Key Highlights
- STL Networks issues 4.5 crore warrants to promoter Twin Star Overseas.
- Total value of the preferential allotment is ₹108 crore.
- Each warrant is priced at ₹24 and convertible to one equity share.
- Promoter's shareholding increases post-allotment on a fully diluted basis.
- Allotment is in compliance with SEBI regulations and stock exchange approvals.
Price Impact
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