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.

Next Story
Technology

AirBrick Infra Sets Rs 1 billion Target, Expands to Dubai and Tier-II Cities

AirBrick Infra, one of India’s fastest-growing AI-led commercial interior design and build firms, has announced a sales order target of Rs 1 billion for FY 2025–26. The projection represents a 50 per cent growth over the previous fiscal year and reflects rising demand, increased repeat business, and the company's robust tech-first delivery model.  Now in its third year of operations, AirBrick continues its rapid scale-up, having successfully delivered over 70 projects spanning 3 lakh sq ft in FY 2023–24. FY 2024–25 witnessed the onboarding of several Fortune 500 clients, sett..

Next Story
Resources

Virtusa Foundation Powers Green Education Drive in Bengaluru

The Virtusa Foundation, CSR arm of digital engineering and technology leader Virtusa Corporation, has announced key infrastructure and mobility initiatives at the Ramakrishna Mission, Shivanahalli, Bengaluru. The launch marks the inauguration of a 16-room residential facility for lady teachers and the deployment of two solar-powered electric buses, underscoring Virtusa’s commitment to its core pillars of Education, Environment and Empowerment (3Es).  Located on the forest fringe near Bannerghatta National Park, the initiative supports tribal and underserved communities, complementi..

Next Story
Infrastructure Urban

Godrej Enterprises Drives India’s Smart Green Logistics Shift

As India accelerates its transformation into a global manufacturing and logistics hub, Godrej Enterprises Group (GEG) is taking the lead with its smart, sustainable intralogistics solutions. Through its Material Handling Equipment (MHE) and Storage Solutions businesses, GEG is redefining operational efficiency in modern warehouses and factories using IoT, automation, and AI. GEG has consistently maintained a 20–25 per cent market share in the intralogistics sector over the past three years. Today, over 37 per cent of GEG’s revenues come from its Good & Green portfolio, and its net..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?