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Akash Infra-Projects Ltd. ( (IN:AKASH) ) has issued an update.
Akash Infra-Projects Ltd. has approved the allotment of 40,00,000 convertible warrants on a preferential basis, each priced at Rs. 40, after receiving 25% of the issue price as upfront subscription amount totaling Rs. 4 crore. The issue, made in dematerialized form and subject to a regulatory lock-in, follows prior shareholder and NSE approvals, signaling a targeted capital-raising move that could strengthen the company’s balance sheet and support future infrastructure projects while modestly diluting existing equity holders.
More about Akash Infra-Projects Ltd.
Akash Infra-Projects Ltd. is a Gujarat-based infrastructure company focused on road construction and related civil works, branding itself as a builder of reliable roads. The company is listed on the National Stock Exchange of India, serving public and private sector clients in the transport infrastructure segment.
Average Trading Volume: 74,875
Technical Sentiment Signal: Strong Sell
Current Market Cap: 425.8M INR
See more insights into AKASH stock on TipRanks’ Stock Analysis page.