Zelio E-Mobility To Raise ₹168 Cr Via Preferential Issue

by · Inc42

SUMMARY

  • Zelio’s board of directors approved a preferential issue of equity shares and convertible warrants to raise up to ₹167.95 Cr
  • The company will issue up to 9.73 Lakh equity shares to four non-promoter institutional investors to raise ₹83 Cr, and over 9.96 Lakh convertible warrants to three promoters to raise nearly ₹85 Cr
  • Zelio’s shareholders will review the proposal to raise funds, as well as several proposed related-party transactions, at an EGM on October 20