The Board of Swadeshi Industries & Leasing Limited has approved the allotment of 1.231 Cr convertible warrants at ₹10 each on a preferential basis.

These warrants, totaling ₹12.31 Cr, are convertible into an equal number of equity shares for both promoters and non-promoters.

This capital raising move is significant for the company, as it injects funds and will potentially increase its equity base upon conversion.

Investors should note this development as it impacts the company's capital structure and future funding.