STL Networks has issued 4.5 Cr warrants at Rs. 24 each to promoter Twin Star Overseas Ltd. This preferential allotment, aggregating Rs. 108 Cr, converts to shares at Rs. 24 per share, potentially increasing promoter holding to 47.73%.
STL Networks plans to issue convertible warrants to its promoter, Twin Star Overseas Limited. This preferential issue aims to raise approximately ₹108 crore. The funds will be used for repaying debt (75%) and general corporate purposes (25%).
STL Networks is issuing up to 4.5 crore convertible warrants to promoter Twin Star Overseas Limited for Rs 108 crore. Each warrant can be converted into one equity share within 18 months. Funds will be used for general corporate purposes.
