Mumbai: Black Box Limited today announced that it has received commitment for raising of funds aggregating to Rs. 410 crores via preferential issue aimed at accelerating growth and expansion in digital infrastructure sector.

The Board of Directors, in its meeting held today, approved the issuance in one or more tranches, 98,32,123 fully convertible warrants, at a price of Rs. 417/- (Rupees Four Hundred and Seventeen Only) per warrant, aggregating to Rs. 410 crores (Rupees Four Hundred and Ten Crores Only) and each Warrants is convertible into 1 (One) equity share of face value of Rs. 2/- (Rupees Two Only) each fully paid-up (“Equity Share”) of the Company at a premium of Rs. 415/- (Rupees Four Hundred and Fifteen Only) at the option of Proposed Allottee, in one or more tranches, at any time within 18 (Eighteen) months from the date of allotment of the Warrants in accordance with relevant provisions of SEBI ICDR Regulations.

The funding round has garnered Rs. 200 crores from the existing promoters of the company, Rs. 200 crores from the consortium of marquee investors comprises of foreign institutional investors & high-net-worth individuals and Rs. 10 crores by key management personnel of the company. After the conversion of warrants into equity, promoter shareholding will be marginally lower from existing 71.1% to 69.8%. Black Box continues to be Essar’s key investment in the technology space.

The company achieved EBITDA of Rs. 428 crores in FY24, growth of 59% on FY23 EBITDA and PAT of Rs. 138 crores in FY24 which is 5.8x on FY23 PAT. The fund raise capital is a growth capital for the company and will be invested across several key areas: Expansion of Data Centre Build Capabilities, Advancement in Network Infrastructure, Innovation and Delivery and Go To Market Expansion. DeshGujarat

🗃️ This story is from our archives and may contain outdated information.