Xpro India Ltd has proposed a capital raising plan to raise up to ₹140 crore through a preferential issue of convertible warrants and up to ₹150 crore through Qualified Institutions Placement (QIP).
The company has said in its regulatory filing that the promoter group will also participate in the preferential issue.
In addition, Xpro India’s board has also approved the setting up of a subsidiary in the United Arab Emirates (UAE).
Xpro India stock declined by 3.78 per cent on the NSE, trading at ₹1,138.55 as of 2:23 pm.