India, Sept. 26 -- Contract manufacturing company Aequs' board has approved a fund raise of up to Rs.650 Cr via a preferential issue of warrants to the promoter group, Mellwood Trustee Services Pvt Ltd.

In a filing with the exchanges yesterday (September 25), the company said that its board has approved the issuance of 2.8 Cr warrants at an issue price of Rs.231.55 per warrant. Of the total issue size, Rs.325 Cr will be payable upfront upon allotment of the warrants, representing 50% of the issue size, and twice the regulatory minimum. The balance will be payable upon exercise of the warrants.

The promoter issued an investment commitment letter dated September 25, 2026 to the company, confirming its intention to subscribe to the warrant...