SVP Global Ventures to raise Rs 235 cr via issue of convertible warrants

SVP Global Ventures announced it's intention to issue upto 2,23,80,952 Convertible Equity Warrants to it's parent company, Shri Vallabh Pittie Ventures. The aggregate value of the transaction will stand at Rs. 235 crore for cash and the allotment of warrants will be completed within 15-day period from the date of shareholders approval.

The Warrant holder has the option to convert Equity warrants into equivalent number of fully paid up equity shares of face value of Rs.1/- each, in one or more tranches within 18 months from the date of allotment of warrant, at an issue price of Rs 105/- per Equity Share and is subject to interim adjustments by way of capitalisation of profits or reserves demerger, rights issue or any consolidation/reclassification activities.

As on date, the Pre Issue Shareholding of the Promoter and Non Promoter stood at 68.71% and 31.29% respectively. Post issue the promoter and promoter group shareholding will be 73.41%.

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