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The board of directors of Ramky Infrastructure Limited has approved a preferential issue of 1,20,00,000 convertible equity warrants to promoter/non-promoter investors at a meeting held on Saturday, September 30.
In a regulatory filing to the BSE, the Hyderabad-based construction-cum-infrastructure company informed that the issue is subject to approval of the company's shareholders.
The board decided to issue 50,00,000 convertible equity warrants of Rs 10 each at a price of Rs 101 aggregating Rs 50 crore to A Dakshayani, Wife of Alla Ayodhya Rami Reddy, Promoter Ramky Infrastructure, forming part of the promoter group.
It has also decided to issue 70,00,000 convertible equity warrants of Rs 10 each at Rs 101 aggregating Rs 70.70 crore to non-promoter investors.
These non-promoter investors include Aadi Financial Advisors LLP (50,00,000 convertible equity warrants, Saraswati Commercial (India) Limited (10,00,000), and Ind Finance and Securities Trust Private Limied (10,00,000).
The shares of Ramky Infra last closed at Rs 97.95, up 3 per cent on Friday, September 29.
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