Black Box Raises ₹386 Crore via Warrant Conversion; Promoters Infuse ₹200 Crore
Digital infrastructure solutions provider Black Box, an Essar Group firm, on Monday announced that it has raised ₹386.36 crore through the conversion of warrants into equity shares. The company converted over 9.265 million warrants at an issue price of ₹417 per share, according to a regulatory filing, with all warrant holders fully exercising their rights without any forfeiture or withdrawal.
Promoters played a significant role in the capital infusion, contributing ₹200 crore, which accounts for 51.76 per cent of the total funds raised. Following the conversion, the promoter shareholding in the company has increased to 69.99 per cent, strengthening their stake in the firm.
Commenting on the development, Black Box CEO Sanjeev Verma said the fresh capital infusion will bolster the company’s balance sheet and enhance financial flexibility. He added that the funds will support the acceleration of its growth strategy, expansion of digital infrastructure capabilities, and broader market presence.
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