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.

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