Xpro India Ltd has entered into a Securities Subscription Agreement with Malabar India Fund Ltd, a category-I foreign portfolio investor for subscription of securities (warrants) of the company. The investor is entitled to subscribe up to 16.40 lakh warrants at ₹762 per warrant. Each warrant, upon being fully paid-up within 18 months from date of allotment, shall be converted into one equity share of ₹10 face value. Upon full conversion of warrants into equity shares, the investor has the right to nominate a non-executive, non-independent director in the company. The stock of Xpro India closed 0.64 per cent lower at ₹931.35 on the BSE.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.