B K Birla group company Century Enka will issue 1.8 million warrants to promoter companies in a preferential allotment. The funds are being raised to meet its capex requirements and increase its long term financial resources.
The promoters own 25.23% in Century Enka, which would make it low among Indian companies.
Century Textiles and Industries, a B K Birla group company, which owns 1.83% at present, will see buy 0.9 million warrants and see its stake rise to 5.8%.