Pelatro Approves Rs 28 Crore Preferential Issue Of 7 Lakh Warrants

Board approved issue of 7 lakh warrants at Rs400 each for up to Rs28Cr, convertible into 1 Rs10 share within 18 months; promoters to take 2 lakh, rest to public/AIF, subject to shareholder nod. Large post-listing equity raise relative to small revenue base. Promoter backing alongside external investors; related-party scrutiny stays relevant and cash conversion is key watch. Adds future dilution and funding headroom; conversion over 18 months defers equity. Use of proceeds, pricing basis, upfront payment and timelines not disclosed; needs shareholder approval.