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Gujarat Apollo Industries Limited has announced a board meeting to approve the issuance of 11,70,000 convertible warrants on a preferential basis. These warrants will be allotted at a subscription price of ₹73 per warrant, aggregating to ₹8.54 crore received, and a total exercise price of ₹34.16 crore upon conversion. The meeting outcomes included the completion of requisite approvals from stock exchanges, and each warrant is convertible into one equity share within nine months of allotment. This strategic move aims to strengthen the company's capital structure.