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Prime Fresh’s Capital Cocktail: 960,000 Warrants, ₹157 Million, One Big Move

Updated: May 15, 2025 19:12

Image Source: X (Twitter)
Prime Fresh Limited made an announcement of board sanction for issuing 960,000 fully convertible warrants on a preferential basis, aggregating ₹157.4 million. The strategic capital-raising move will enhance the financials of the company and fuel its future growth plans.
 
Prime Fresh Ltd, a BSE-listed company, has made a major move to enhance its capital base by sanctioning the issue of 960,000 convertible warrants. These warrants, upon conversion, will convert into an equivalent number of equity shares, giving the company fresh equity infusion and indicating confidence in its growth story.
 
Details of the Warrants Issue
  • The Board of Directors on 9th April 2025 approved the issue of 960,000 fully convertible warrants.
  • The total consideration for these warrants is ₹157.4 million.
  • The warrants shall be issued preferentially to a particular investor, in accordance with SEBI regulations.
  • Each warrant will be convertible into one company equity share within a maximum period of 18 months from the allotment date.
Terms and Structure
  • The issue price of warrants will be fixed by the Finance Committee, on a certificate of pricing given by the company's statutory auditor.
  • 75% is to be paid in advance at the time of allotment and the remaining 25% needs to be paid prior to exercising the option for conversion of warrants into equity shares.
  • If the balance payment is not made within the allotted tenure, the advance amount will be lost.
Purpose and Regulatory Compliance
  • The issue is being done pursuant to Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.
  • Shareholder approval is needed for the preferential allotment, and the company has already initiated a postal ballot process for this.
Strategic Implications
  • The funds raised through this issue will improve the financial flexibility of the company and fund its current and future business endeavors.
  • The action is likely to enhance investor confidence and place Prime Fresh Ltd for long-term growth.
Relevant Sources: Corrigendum to Postal Ballot Notice, Prime Fresh Ltd, BSE Corporate Filing Announcement, Business Standard, Alpha Tribe

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