Valiant Communications Limited has received in-principle approval from the BSE for a preferential issue of warrants. The company plans to issue 6,00,000 warrants convertible into equity shares at Rs. 768.00 per share to non-promoters.

Key Details of the Warrant Issue

The warrant issue is valued at approximately Rs. 46.08 crore. Each warrant carries the right to be converted into one equity share with a face value of Rs. 10.00.

Allocation of Warrants

The warrants will be allocated to six investors as follows:

Additional Board Decisions

Previously, the Board of Directors had taken several important steps in connection with this preferential issue:

1. Constituted a Preferential Issue Committee to oversee and manage all necessary actions related to the issue.
2. Approved a draft postal ballot notice to seek shareholder approval for the preferential issue.

Regulatory Compliance

The issue price of Rs. 768.00 per warrant has been determined in accordance with the provisions of Chapter V of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, and applicable provisions of the Companies Act, 2013.

Next Steps

While Valiant Communications Limited has received in-principle approval from the BSE, the preferential issue remains subject to shareholders' approval, which will be sought through a postal ballot. The company will provide further details on the conversion of securities or the lapse of the tenure of the instrument as required.

This move by Valiant Communications Limited indicates an effort to raise capital. The company has not provided specific information on how the funds will be utilized.

Valiant Communications Limited , a player in the telecommunications equipment sector, has recently secured a significant contract from the Transmission Corporation of Telangana Limited (TGTRANSCO). This development marks a notable achievement for the company in the power transmission equipment market.

Contract Details

The company has received a Letter of Intent from TGTRANSCO for a project involving the supply and commissioning of protection equipment. Here are the key details of the contract:

Project Scope

The contract entails the supply and commissioning of protection equipment as per TGTRANSCO's technical requirements. This indicates Valiant Communications' capability to meet the specialized needs of power transmission infrastructure.

Significance of the Contract

1. Domestic Growth: The contract with a state-owned entity underscores Valiant Communications' growing presence in the domestic market for power transmission equipment.

2. Revenue Boost: With a value of INR 632.00 lacs, this contract is likely to contribute significantly to the company's revenue stream over the next few years.

3. Execution Timeline: The project's completion deadline of May 30, 2026, provides Valiant Communications with a substantial timeframe to execute the contract efficiently.

Company Disclosure

In compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Valiant Communications has made the necessary disclosures regarding this contract. The company has confirmed that:

• The contract is not a related party transaction.
• Neither the promoter nor the promoter group has any interest in TGTRANSCO.

This transparency in disclosure aligns with regulatory requirements and good corporate governance practices.

Conclusion

The securing of this contract by Valiant Communications represents a positive development for the company. It not only strengthens its position in the power transmission equipment market but also demonstrates its ability to win contracts from state-level entities. As the company moves forward with the execution of this project, stakeholders will likely keep a close watch on its performance and the potential for similar contracts in the future.