Tunwal E-Motors Allots 34 Lakh Promoter Warrants Worth Rs 10.2 Crore

Board allotted 34 lakh convertible warrants at Rs 30 each to 5 promoter/promoter group allottees for Rs 10.2 Cr (Rs 2.55 Cr upfront), each convertible to one Rs 2 share within 18 months. First preferential close after an earlier proposal never allotted; fully promoter subscribed after AGM and NSE approvals, resolving the funding overhang and aiding inventory-led cash strain. Promoter stake rises only on full conversion with 75% still to come; use of proceeds not stated; CEO vacancy and subsidiary commissioning remain open.