Dugar Housing Developments Limited has announced a board meeting that approved a preferential allotment of 67 lakh equity shares at Rs. 12 per share to investors outside the promoter group.

Additionally, the board approved issuing 27 lakh fully convertible warrants at the same price, convertible into equity shares within 18 months upon full payment.

Initial subscription money of 25% for the warrants has been received.

These capital raising moves aim to strengthen the company’s equity base and support growth plans, offering shareholders potential value enhancement through fresh infusion from reputed investors.