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Aequs approves ₹650-crore promoter warrant infusion for expansion
Aequs plans to raise money from its promoter group, which is its main shareholder group.
The company will issue special instruments called warrants.
These warrants could bring in about ₹650 crore.
Half of the money, ₹325 crore, must be paid at the start.
The rest will be paid if the warrants are changed into shares.
The warrants can be converted into shares within 18 months.
If all are converted, the promoter group’s ownership will rise from 59.09% to 60.73%.
Aequs says the money will help expand its aerospace and consumer businesses and support borrowing.
Aequs’s board approved a preferential issue of up to 28.07 million warrants to promoter-group trustee Mellwood Trustee Services.
The warrants will raise approximately ₹650 crore, with ₹325 crore payable upfront and the remainder upon exercise.
Each warrant can be converted into one fully paid-up equity share with a face value of ₹10.
Warrants may be exercised within 18 months, with conversion into shares due by December 31, 2027.
Full conversion would raise promoter and promoter-group ownership to 60.73% from 59.09%, funding aerospace and consumer capacity expansion.
- Who
- Aequs and its promoter group, through Mellwood Trustee Services, trustee of the Melligeri Private Family Foundation.
- What
- Aequs approved a preferential issue of up to 28.07 million warrants worth approximately ₹650 crore.
- Where
- The company operates within a single special economic zone in India.
- When
- The approval was announced on Friday; warrant exercise is permitted within 18 months, with conversion due by December 31, 2027.
- Why
- The proceeds will fund aerospace and consumer capacity expansion and support Aequs’s borrowing program.
Key facts
- Total issue size
- Approximately ₹650 crore
- Upfront payment
- ₹325 crore, or 50% of the issue size
- Warrants offered
- Up to 28.07 million
- Conversion ratio
- One warrant converts into one fully paid-up equity share
- Exercise period
- Within 18 months from allotment
- Promoter ownership after conversion
- 60.73%, up from 59.09%
- Conversion deadline
- On or before December 31, 2027
Sources
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