Black Box receives ₹386 crore from warrant conversion

Black Box Ltd., a global digital infrastructure solutions provider, on Monday said it had received ₹386.36 crore on account of conversion of warrants issued on September 27, 2024.

The company said it has converted 92,65,215 warrants into equity shares at an issue price of ₹417 per share. 

“All warrant holders have exercised their rights in full, with no forfeiture or withdrawal,” the company said in a statement.

“The timely and complete conversion — despite a volatile equity market environment—reflects strong investor and promoter confidence in Black Box’s business fundamentals, growth strategy, and execution capabilities,” the company said.  Promoters participated in the issue, contributing ₹200 crore, representing 51.76% of the total infusion. 

Following the conversion, promoter shareholding stands at 69.99%.

Sanjeev Verma, Chief Executive Officer, Black Box Ltd. said, “We are pleased to announce the successful completion of this capital raise, with full participation from both promoters and investors.”

“The infusion of ₹386 crore strengthens our balance sheet and provides additional flexibility to accelerate our growth agenda. We remain focused on scaling our digital infrastructure capabilities, expanding our market presence, and delivering consistent value to our customers and shareholders,” he added. 

Deepak Bansal, Chief Financial Officer, Black Box Ltd., added, “This capital enhances our ability to invest in priority growth areas while maintaining a disciplined approach to capital allocation, operational efficiency, and returns. We are well positioned to capitalize on emerging opportunities across our markets.”