Company Update

IIRM Holdings India Ltd has successfully closed its preferential issue by allotting 15,59,883 equity shares at INR 143.28 each, raising 22.35 Cr, alongside 88,39,333 convertible warrants at the same price, raising 126.65 Cr from 13 investors.

The company has collected the mandatory 25% upfront payment for the warrants, with the remaining 75% due upon exercise within 18 months.

Out of 14 initially proposed allottees, one individual opted out, resulting in no allotment to them.

This capital injection strengthens the company's financial position and funds future growth initiatives as warrant holders eventually convert their holdings into equity.