Goyal Associates to Issue Warrants Worth Up to 15 Million Rupees

Goyal Associates Limited, a Non-Banking Financial Company (NBFC), has announced plans to issue warrants convertible into equity shares. The company intends to issue up to 15 million rupees worth of warrants, each convertible into one equity share of face value Rs. 10. The issue price is set at Rs. 79.25 per warrant, including a premium of Rs. 69.25. This move is part of a preferential issue, with the Ravi Goyal Family Trust being one of the proposed allottees. The company has already received regulatory approvals and has collected 25% of the issue price as upfront payment. This capital raising initiative aims to strengthen Goyal Associates' financial position in the competitive NBFC sector.

 

Source: AGS India, Financial Express, NSE Archives