{"id":49532,"date":"2025-02-24T12:06:11","date_gmt":"2025-02-24T06:36:11","guid":{"rendered":"https:\/\/newswiredelhi.com\/index.php\/2025\/02\/24\/transteel-seating-board-approves-issuance-of-fully-convertible-warrants-on-preferential-basis-2\/"},"modified":"2025-02-24T12:06:11","modified_gmt":"2025-02-24T06:36:11","slug":"transteel-seating-board-approves-issuance-of-fully-convertible-warrants-on-preferential-basis-2","status":"publish","type":"post","link":"https:\/\/newswiredelhi.com\/index.php\/2025\/02\/24\/transteel-seating-board-approves-issuance-of-fully-convertible-warrants-on-preferential-basis-2\/","title":{"rendered":"Transteel Seating Board approves issuance of fully convertible warrants on preferential basis"},"content":{"rendered":"<p><img decoding=\"async\" width=\"1200\" height=\"675\" src=\"https:\/\/primexnewsnetwork.com\/wp-content\/uploads\/2025\/02\/img-38790.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" loading=\"lazy\" \/><\/p>\n<div>\n<p><span data-sheets-root=\"1\"><strong>Bengaluru (Karnataka) [India], February 24:<\/strong> <\/span>Transteel Seating Technologies Limited (NSE: Transteel), a premier manufacturer of bespoke office furniture and installation solutions in India, has approved the issuance of 48.20 lakh fully convertible warrants on a preferential basis. The decision was approved by the Board of Directors of Transteel Seating Technologies in their meeting on February 12.<\/p>\n<p>These warrants are convertible into an equivalent number of fully paid-up equity shares of Transteel Seating Technologies with a face value of Rs. 10 each within 18 months from the date of allotment.<\/p>\n<p>The Warrants have been issued to select strategic investors in the \u201cNon-Promoter, Public Category,\u201d including Century India Opportunity Fund PC, at an issue price of Rs. 80 per warrant. Transteel Seating Technologies has already received 25% of the issue price as a subscription amount, aggregating to Rs. 9.64 crore. The balance 75% of the warrant issue price will be payable upon conversion of the warrants into equity shares within the stipulated period.<\/p>\n<p><strong>Key Highlights:\u00a0<\/strong><\/p>\n<ul>\n<li>Transteel Seating Technologies approves issuance of 48.20 lakh fully convertible warrants on a preferential basis.<\/li>\n<li>Warrants will be convertible into fully paid-up equity shares within 18 months at Rs. 80 per warrant.<\/li>\n<li>The company reported a 7% revenue growth and an 11% increase in net profit for H1 FY 2024-25<\/li>\n<\/ul>\n<p>Shiraz Ibrahim, Managing Director, Transteel Seating Technologies Limited, said, \u201cThis strategic capital infusion underscores investor confidence in our robust financial health, operational excellence and long-term growth prospects. The additional capital will empower us to drive product innovation and expand our market presence. Our investors\u2019 trust reaffirms our commitment to delivering sustained value and long-term profitability.\u201d<\/p>\n<p>Transteel Seating Technologies continues to demonstrate strong financial performance, reinforcing its position as a trusted name in corporate and B2B furniture solutions. For the first half of financial year 2024-25 (April\u2013September 2024), the company reported a revenue of Rs. 3,436.20 lakh, marking an increase of 7% compared to Rs. 3,125.68 lakh in the same period of FY 2023-24. The net profit surged to Rs. 463.65 lakh, representing an 11% growth from Rs. 417.65 lakh in the corresponding period of the previous year.<\/p>\n<p>Transteel Seating Technologies remains committed to strengthening its industry leadership by delivering cutting-edge, customer-centric solutions in the workspace furniture segment.<\/p>\n<p><strong>About Transteel Seating Technologies Limited<\/strong><\/p>\n<p>Transteel Seating Technologies Limited (NSE: Transteel) is a leading manufacturer of bespoke office furniture in India, specializing in innovative, high-quality solutions for corporate and B2B spaces. Committed to excellence and long-term growth, Transteel provides stylish and durable furniture tailored to meet the needs of modern workspaces.<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bengaluru (Karnataka) [India], February 24: Transteel Seating Technologies Limited (NSE: Transteel), a premier manufacturer of bespoke office furniture and installation solutions in India, has approved the issuance of 48.20 lakh [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":49533,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_rishi_post_view_count":118},"categories":[9],"tags":[674],"class_list":["post-49532","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press-release","tag-pressrelease","rishi-post"],"rishi__cb_customizer_meta":"","comments_count":"0","_links":{"self":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/49532","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/comments?post=49532"}],"version-history":[{"count":0,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/posts\/49532\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media\/49533"}],"wp:attachment":[{"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/media?parent=49532"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/categories?post=49532"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newswiredelhi.com\/index.php\/wp-json\/wp\/v2\/tags?post=49532"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}