Tirupati Forge Allots 37 Lakh Promoter Warrants Worth ₹21.46 Crore

Tirupati Forge allotted 37 lakh fully convertible warrants to promoters and promoter-group investors at Rs. 58 each, raising Rs. 21.46 crore on full conversion. The warrants carry an 18-month exercise period, with 25% of proceeds, or Rs. 5.37 crore, received upfront, implying potential equity dilution.