Balu Forge Industries Limited, a Mumbai-based company with Rs 214,688.02 crore in total assets, plans to issue up to 3 million warrants to investors in a Rs 1.62 billion offering. Each warrant, priced at Rs 540, is fully convertible into one equity share with a face value of Rs 10, and the conversion period is 18 months. Key investors in the preferential issue include Trimaan Promoter and Jaikaran Promoter, both linked to Managing Director Jaspalsingh Chandock, who will receive a significant portion of the warrants. The move represents a substantial capital raise for Balu Forge Industries and will result in dilution for existing shareholders, with the funds likely earmarked for future growth initiatives. The warrant issue is being conducted in compliance with Indian company law and SEBI regulations.