Sah Polymers Raises Rs 64.80 Crore Through Preferential Warrant Issue
Sah Polymers has raised Rs 64.80 crore by issuing 72,00,000 convertible warrants at Rs 90.00 each. The warrants were allocated to both promoter and non-promoter entities. Aeroflex Enterprises Limited (promoter) received 36,00,000 warrants, while Benani Capital Scheme-1 and VPK Global Venture Fund-Scheme-1 (non-promoters) received 6,00,000 warrants each. Each warrant is convertible into one equity share within 18 months. Upon full conversion, Aeroflex will hold a 54.30% stake, while each non-promoter entity will hold 1.85%. The company has received 25% of the warrant price upfront.