ATV Projects India (BOM:500028) said its board has approved the issuance of up to 2.5 million convertible warrants, aggregating to over 1 billion Indian rupees, according to a BSE filing on Saturday.
The warrants will be issued to the company's promoter Mahalaxmi Import Export on a preferential basis through private placement, the filing said.
The issuance will be carried out in one or more tranches, it added.
Shares of the company fell nearly 2% in afternoon trade on Monday.
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