Spectrum Electrical Industries raises Rs 324.98 cr via equity issuance

Spectrum Electrical Industries has allotted 13,73,625 equity shares of face value of Rs 10 each at an issue price of Rs 2,002 per equity share (including a premium of Rs 1,992 per equity share) aggregating to Rs 274.99 crore to non-promoter group.

The company also allotted 2,49,750 fully convertible warrants at an issue price of Rs 2,002 per warrant (including a premium of Rs 1,992 per warrant) for an aggregate amount of Rs 49.99 crore to the promoter of the company on receipt of Rs 12.49 crore being 25% of the warrant subscription price.