Shree Marutinandan Tubes Limited has received in-principle approval from BSE for its proposed preferential issue.

The company plans to issue 0.4757 Cr warrants, each convertible into one equity share.

These 0.4757 Cr equity shares will be issued at a price of not less than Rs. 103 per share to both promoters and non-promoters.

This regulatory nod is a significant step forward for the company's capital raising plans, aimed at strengthening its financial position.

Investors should see this as progress towards funding future initiatives.