Asian Energy Services to Raise Rs 1.60 Billion via Convertible Warrants
POWER & RENEWABLE ENERGY

Asian Energy Services to Raise Rs 1.60 Billion via Convertible Warrants

Asian Energy Services has announced its intention to raise Rs 1.60 billion by issuing 48 lakh fully convertible warrants. This decision was ratified during the Board of Directors meeting held on August 27, 2024. Each warrant is priced at Rs 335 and provides the holder with the option to apply for one fully paid-up equity share of Rs 10 within 18 months of allotment.

Following the conversion of 3.35 million warrants held by the promoter and the issuance of the new 48 lakh warrants, the total number of fully diluted shares will reach 4,95,74,444 equity shares. After the issuance, the promoter and promoter group's holding will amount to 55.07 per cent.

The company plans to allocate the proceeds towards exploring growth opportunities, meeting working capital needs, and covering general corporate expenses. The issuance is anticipated to attract significant interest from high-net-worth individuals (HNIs) and family offices.

Kapil Garg, the Managing Director of Asian Energy Services Limited, commented that the funds raised would ensure the company remains well-capitalised as it seeks new opportunities in operations and maintenance for the oil & gas sectors, as well as in combined heat and power (CHP) projects and the minerals sector. He further noted that the capital infusion would enhance the company's financial position and support its continued growth, both organically and through strategic acquisitions.

Asian Energy Services has announced its intention to raise Rs 1.60 billion by issuing 48 lakh fully convertible warrants. This decision was ratified during the Board of Directors meeting held on August 27, 2024. Each warrant is priced at Rs 335 and provides the holder with the option to apply for one fully paid-up equity share of Rs 10 within 18 months of allotment.Following the conversion of 3.35 million warrants held by the promoter and the issuance of the new 48 lakh warrants, the total number of fully diluted shares will reach 4,95,74,444 equity shares. After the issuance, the promoter and promoter group's holding will amount to 55.07 per cent.The company plans to allocate the proceeds towards exploring growth opportunities, meeting working capital needs, and covering general corporate expenses. The issuance is anticipated to attract significant interest from high-net-worth individuals (HNIs) and family offices.Kapil Garg, the Managing Director of Asian Energy Services Limited, commented that the funds raised would ensure the company remains well-capitalised as it seeks new opportunities in operations and maintenance for the oil & gas sectors, as well as in combined heat and power (CHP) projects and the minerals sector. He further noted that the capital infusion would enhance the company's financial position and support its continued growth, both organically and through strategic acquisitions.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code