Tirupati Forge Limited — QIP/Rights/Pref., 16-01-2025: Allotment of Securities

Tirupati Forge Limited has announced a board meeting outcome, approving the allotment of 1,46,00,000 equity shares at Rs. 32 each, raising Rs. 46.72 Cr. The shares were issued fully paid to non-promoter public investors on a preferential basis. Additionally, it has allotted 1,17,60,000 fully convertible equity warrants at the same price, aggregating to Rs. 37.63 Cr, with 25% as upfront payment. The warrants may be converted into equity shares within 18 months. This capital raise aims to bolster the company's financial position and support future growth initiatives.