Black Box Completes Preferential Issue, Receives Rs 386 Crore From Warrant Conversion

(MENAFN- IANS) Mumbai, March 30 (IANS) Black Box Limited (BSE: 500463 | NSE: BBOX), a leading global digital infrastructure solutions provider, on Monday announced the successful receipt of Rs 386.36 crore pursuant to the conversion of warrants issued on September 27, 2024.

The Company has converted 92,65,215 warrants into equity shares at an issue price of Rs 417 per share. All warrant holders have exercised their rights in full, with no forfeiture or withdrawal.

The timely and complete conversion -- despite a volatile equity market environment -- reflects strong investor and promoter confidence in Black Box's business fundamentals, growth strategy, and execution capabilities.

Promoters participated meaningfully in the issue, contributing Rs 200 crore, representing 51.76 per cent of the total infusion. Following the conversion, promoter shareholding stands at 69.99 per cent, underscoring continued long-term commitment and alignment with all shareholders.

Sanjeev Verma, Chief Executive Officer of Black Box Limited, said,“We are pleased to announce the successful completion of this capital raise, with full participation from both promoters and investors. The infusion of Rs 386 crore strengthens our balance sheet and provides additional flexibility to accelerate our growth agenda. We remain focused on scaling our digital infrastructure capabilities, expanding our market presence, and delivering consistent value to our customers and shareholders.”

Deepak Bansal, Chief Financial Officer 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 capitalise on emerging opportunities across our markets.”

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