Avalon Technologies Approves ₹425 Crore Warrant Issue To Zollner Elektronik

Board approved AoA change to permit warrants and preferential issue of 19.38 lakh warrants at Rs 2193.2 each (Rs 425 Cr) to Zollner Elektronik AG, convertible 1:1 within 18 months, via EGM Nov 21. First direct parent-level holding for European EMS JV partner, extending ties beyond recently incorporated India JV vehicle; strategic validation alongside pending JV closing. 2.82% dilution on full conversion; 25% upfront, 75% on exercise, lapse forfeited if unexercised; Crisil to monitor proceeds; use of funds undisclosed; needs shareholder and regulatory approvals.