Gei Hamon, maker of heat management systems for oil and power companies, will raise Rs 5.26 crore (Rs 52.6 million) through preferential issue of equity-linked warrants to its promoters.
The company informed the Bombay Stock Exchange on Monday that its board of directors at its meeting on April 28 have decided to make a preferential allotment of up to 9 lakh warrants, convertible into equity shares, at Rs 58.50 each.
An extra ordinary general meeting of the company has been scheduled for May 28 for approving the proposed preferential issue.
The company already has approval for raising up to $20 million from overseas markets.