+
Asian Energy Services to Raise Rs 1.60 Billion via Convertible Warrants
POWER & RENEWABLE ENERGY

Asian Energy Services to Raise Rs 1.60 Billion via Convertible Warrants

Asian Energy Services has announced its intention to raise Rs 1.60 billion by issuing 48 lakh fully convertible warrants. This decision was ratified during the Board of Directors meeting held on August 27, 2024. Each warrant is priced at Rs 335 and provides the holder with the option to apply for one fully paid-up equity share of Rs 10 within 18 months of allotment.

Following the conversion of 3.35 million warrants held by the promoter and the issuance of the new 48 lakh warrants, the total number of fully diluted shares will reach 4,95,74,444 equity shares. After the issuance, the promoter and promoter group's holding will amount to 55.07 per cent.

The company plans to allocate the proceeds towards exploring growth opportunities, meeting working capital needs, and covering general corporate expenses. The issuance is anticipated to attract significant interest from high-net-worth individuals (HNIs) and family offices.

Kapil Garg, the Managing Director of Asian Energy Services Limited, commented that the funds raised would ensure the company remains well-capitalised as it seeks new opportunities in operations and maintenance for the oil & gas sectors, as well as in combined heat and power (CHP) projects and the minerals sector. He further noted that the capital infusion would enhance the company's financial position and support its continued growth, both organically and through strategic acquisitions.

Asian Energy Services has announced its intention to raise Rs 1.60 billion by issuing 48 lakh fully convertible warrants. This decision was ratified during the Board of Directors meeting held on August 27, 2024. Each warrant is priced at Rs 335 and provides the holder with the option to apply for one fully paid-up equity share of Rs 10 within 18 months of allotment.Following the conversion of 3.35 million warrants held by the promoter and the issuance of the new 48 lakh warrants, the total number of fully diluted shares will reach 4,95,74,444 equity shares. After the issuance, the promoter and promoter group's holding will amount to 55.07 per cent.The company plans to allocate the proceeds towards exploring growth opportunities, meeting working capital needs, and covering general corporate expenses. The issuance is anticipated to attract significant interest from high-net-worth individuals (HNIs) and family offices.Kapil Garg, the Managing Director of Asian Energy Services Limited, commented that the funds raised would ensure the company remains well-capitalised as it seeks new opportunities in operations and maintenance for the oil & gas sectors, as well as in combined heat and power (CHP) projects and the minerals sector. He further noted that the capital infusion would enhance the company's financial position and support its continued growth, both organically and through strategic acquisitions.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code