Shree Marutinandan Tubes Limited has confirmed the allotment of 22.00 lakh fully convertible warrants, valued at approximately Rs. 22.66 crore in total, on a preferential basis.

Each warrant is priced at Rs. 103 and entitles the holder to one equity share.

This allotment follows the successful receipt of the initial 25% upfront payment from non-promoter public investors who availed a second opportunity.

These warrants are expected to provide essential financial support for the company's growth initiatives and long-term value creation, with the paid-up share capital increasing upon their conversion within 18 months.