Leo Dryfruits Scraps Rs 38.5 Crore Warrants Plan For Fresh Rs 42 Crore Issue

Board scrapped Aug 8 preferential issue of 70L warrants at Rs55 and approved fresh 70L warrants at Rs60 aggregating Rs42Cr to 9 public investors, subject to EGM approval. Replaces promoter-linked proposal with fully public raise; most proceeds for working capital, fitting persistent collection strain; repeat proposal in two months underscores funding need. Adds up to 70L shares on full conversion with 25% upfront and 18-month tenure; needs EGM and BSE approval; actual subscription, conversion and working-capital deployment remain to be seen.