Tirupati Forge Limited — Board Meeting, 16-01-2025: Outcome of Board Meeting

The Board of Directors of Tirupati Forge Limited has approved the allotment of 1,46,00,000 equity shares at ₹32 each, raising ₹46.72 crore, to various non-promoter investors on a preferential basis. Additionally, 1,17,60,000 fully convertible equity warrants were allotted, with an issue price of ₹32 each, totaling ₹37.63 crore. The upfront payment received for these warrants amounts to ₹9.41 crore. These moves are expected to enhance the company's financial stability and support future growth initiatives.