Mumbai, March 30: Global digital infrastructure company Black Box announced on Monday that it has successfully secured ₹386.36 crore from the conversion of warrants issued on September 27, 2024.
The company converted 9,265,215 warrants into equity shares at an issue price of ₹417 per share. All warrant holders fully exercised their rights, with none forfeiting their entitlements.
Despite market volatility, this timely and complete transfer reflects strong confidence from investors and promoters in Black Box’s business principles, growth strategy, and execution capabilities.
Promoters made a significant contribution to this issue, accounting for 51.76% of the total investment, or ₹200 crore. Following the transfer, the promoters’ shareholding increased to 69.99%, demonstrating their long-term commitment and unity with all shareholders.
Sanjeev Verma, CEO of Black Box Limited, stated, “We are pleased to announce that this capital-raising effort has been successfully completed with full participation from both promoters and investors. This investment of ₹386 crore has strengthened our balance sheet and provided us with additional flexibility to accelerate our growth objectives. We are focused on enhancing our digital infrastructure capabilities, expanding our market presence, and continuously delivering value to our customers and shareholders.”
Deepak Bansal, CFO of Black Box Limited, added, “We thank our investors for their continued trust and support. This capital enhances our ability to invest in priority growth areas while maintaining a disciplined approach to capital allocation, operational efficiency, and returns. We are well-positioned to capitalize on emerging opportunities across all our markets.”
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