Gujarat Natural Resources Ltd Approves Issuance of 35 Million Warrants at ₹21.70 Each

Gujarat Natural Resources Ltd (GNRL) has approved the issuance of 35 million warrants, each convertible into one equity share at ₹21.70 per share. This move, announced on February 24, 2025, aims to raise approximately ₹759.5 crore through a preferential allotment to promoters and non-promoters. The warrant price represents a 3.4% premium over the recent closing share price of ₹20.98. GNRL plans to use the funds for expanding operations in the natural resources sector and exploring new business opportunities. Shareholders will vote on this proposal at an Extraordinary General Meeting on March 26, 2025. This capital raise comes amid positive market performance for GNRL, with its share price up 44.59% over the last year. The outcome of this warrant issue could significantly impact the company's growth trajectory and market valuation.

 

Source: Business Standard