HILINFRA : TO RAISE RS 49.82 CR VIA PREFERENTIAL WARRANT ISSUE TO PROMOTERS

• Board approves up to 1 Cr fully convertible warrants at ₹49.82 each, aggregating up to ₹49.82 Cr, to promoter and promoter group • Warrants convertible into equal number of equity shares within 18 months; 25% payable upfront on subscription, balance 75% on exercise • Promoter/promoter group subscribers: Anoop Agrawal, Riddharth Jain and Tirth Agrawal • Board also approves buying 51% of Indore Highway Real Estates Pvt Ltd for ₹38,98,695 (~₹39 L) — 25,500 shares at ₹152.89 each • Acquisition is a related party transaction; target FY24 turnover ₹59.45 L, nil in FY25 and FY26; to become a subsidiary on completion in about one month • Authorised share capital to rise from ₹40 Cr to ₹50 Cr, subject to shareholder approval

Highway Infrastructure Ltd

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