Black Box Ltd., providing digital infrastructure solutions and consulting services to businesses around the world, said it had received commitment for raising ₹410 crore via preferential issue to accelerate growth and expansion in digital infrastructure sector.
The company’s Board has approved the issuance in one or more tranches, 98,32,123 fully convertible warrants, at a price of ₹417 per warrant, aggregating to ₹410 crore.
The funding round has mobilised ₹200 crore from the existing promoters of the company, ₹200 crore from the consortium of investors and ₹10 crore from key management personnel of the company.
After the conversion of warrants into equity, promoter shareholding will be marginally lower from existing 71.1% to 69.8%. Black Box continues to be Essar Group’s key investment in the technology space, the company said.
Sanjeev Verma, Chief Executive Officer, Black Box Ltd in a statement said, “This capital will enable us to embark on an ambitious growth trajectory and enhance our digital infrastructure offerings and drive innovation in a rapidly evolving market.”
