Kalind Approves ₹316 Crore Preferential Warrant Issue For Two Non-Promoter Entities

Board approved a preferential issue of up to 27.48 crore warrants at Rs 11.5 each, aggregating up to Rs 316 Cr, with each warrant convertible into one equity share within 18 months. The issue is subject to shareholder and regulatory approvals. The issue extends Kalind’s capital-markets-led expansion strategy and reinforces its dilution-heavy funding approach for the transformed earth-moving and civil-works businesses. Warrants will be allotted to two non-promoter entities. On full conversion, equity shares would rise from 91.42 crore to 118.90 crore, while promoter holding falls from 13.56% to 10.43%. Only 25% is payable upfront; use of proceeds and subscriber affiliations were not disclosed.