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Durlax Top Surface Limited clarified terms for its proposed preferential issue of convertible warrants. The clarification addresses fund utilization timelines and a minor valuation price rounding difference.
Durlax Top Surface Limited has approved a preferential issue of 1,03,15,790 fully convertible warrants to 12 investors, raising ₹49 Crore. The warrants are priced at ₹47.50 each and are convertible into equity shares within 18 months. This fundraise will increase the company's paid-up share capital from 2,89,32,198 to 3,92,47,988 shares upon full conversion.
Durlax Top Surface Limited approved a preferential issue of 1,03,15,790 fully convertible warrants at ₹47.50 each, aggregating to ₹49.00 Crore. The issue targets promoters and identified non-promoters to raise capital. Additionally, the board approved remuneration increases for the Managing Director and Whole-time Director, effective April 2026.
Durlax Top Surface Limited has scheduled a board meeting for April 16, 2026, to consider a proposal for raising funds through a preferential issue. The company's trading window has been closed since April 1, 2026, in anticipation of the upcoming financial results and fund-raising deliberations.