Asian Energy Services to Raise Rs 1.60 Billion via Convertible Warrants

29 Aug 2024 CW Team

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.

Infrastructure Urban

07 Nov 2025

Piyush Goyal Boosts India–New Zealand Trade Ties

Union Minister of Commerce and Industry, Shri Piyush Goyal, is on an official visit to New Zealand to strengthen bilateral economic and trade relations between the two nations. The fourth round of India–New Zealand Free Trade Agreement (FTA) negotiations is currently underway in Auckland from 3 to 7 November 2025. At the India–New Zealand Business Forum, organised by the Auckland Business Chamber, Shri Goyal joined Hon. Todd McClay, Minister for Trade of New Zealand, for a Fireside Chat moderated by Mr Simon Bridges, CEO of the Auckland Business Chamber. Opening the session, Shri Goyal r..

India, Romania Strengthen Trade and Industry Cooperation

Minister of State for Commerce and Industry, Shri Jitin Prasada, led the Indian business delegation at the India–Romania Business Forum, organised by the Chamber of Commerce and Industry of Bra?ov (CCIBv) in partnership with the Embassy of India in Bucharest and the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India. The engagement focused on expanding bilateral investment and industrial cooperation between the two countries, bringing together business leaders from key sectors such as automotive, aerospace, defence, renewable energy, engineering services, a..

Maritime Security Seminar Strengthens Indian Ocean Cooperation

The Maritime Security Seminar, held as part of the Maritime Information Sharing Workshop (MISW) 25, concluded on 4 November 2025. The three-day workshop, themed “Enhancing Real-Time Coordination and Information Sharing Across the Indian Ocean Region,” is being hosted by the Information Fusion Centre – Indian Ocean Region (IFC–IOR) and has brought together over 57 participants from 30 countries, including representatives from the Indian Ocean Rim Association (IORA), Djibouti Code of Conduct/Jeddah Amendment (DCoC/JA), and the Bay of Bengal Initiative for Multi-Sectoral Technical and Eco..