India, Oct. 16 -- Regency Fincorp Limited has received Board approval to raise Rs 312.15 crore through a preferential issue of equity shares and warrants convertible into equity shares, subject to shareholder and other applicable approvals.
The proposed fundraise includes the issuance of 1,42,66,412 equity shares at Rs 50.50 per share, aggregating Rs 72.05 crore, and 4,75,46,030 convertible warrants at Rs 50.50 each, amounting to Rs 240.11 crore. Each warrant can be converted into one equity share within 18 months of allotment, subject to the applicable terms and conditions.
The company plans to deploy the proceeds towards strategic acquisitions and strengthening its digital lending capabilities. It has earmarked up to Rs 120 crore for ac...