Black Box raises Rs 386 cr via warrant conversion

New Delhi: Digital infrastructure solutions provider Black Box, an Essar Group firm, on Monday said it has raised Rs 386.36 crore through the conversion of warrants into equity shares, with promoters contributing Rs 200 crore to the total infusion.

The company converted over 92.65 lakh warrants at an issue price of Rs 417 per share, according to a regulatory filing.

“Black Box Limited… today announced the successful receipt of Rs 386.36 crore pursuant to the conversion of warrants issued on September 27, 2024…All warrant holders have exercised their rights in full, with no forfeiture or withdrawal.

“Promoters participated meaningfully in the issue, contributing Rs 200 crore, representing 51.76 per cent of the total infusion,” the filing said.

Following the conversion, the promoter shareholding in the company has increased to 69.99 per cent.

Black Box CEO Sanjeev Verma said the capital infusion strengthens the company’s balance sheet and provides flexibility to accelerate its growth agenda, scale digital infrastructure capabilities, and expand its market presence.