Mumbai, June 23 -- The company's board has approved the issuance of up to 12,62,131 equity shares and 8,32,177 convertible warrants, each warrant convertible into one equity share of the company, at an issue price of Rs 721 per security, aggregating up to approximately Rs 151 crore.

The proposed issue has attracted participation from a distinguished group of institutional investors, family offices and long-term and reputed investors.

The proceeds from the issue are intended to support the company's next phase of growth through expansion of manufacturing and testing infrastructure, enhancement of existing facility's capabilities, and strengthening of its position in the power equipment ecosystem.

A key focus area of the proposed investm...