Global Offshore Services Limited announced a private placement of 1,562,500 convertible share warrants at a price of INR 14 per warrant for gross proceeds of INR 21,875,000 on April 30, 2024. The warrants will be convertible into one common share of the company at INR 42 per share and will mature in 18 months from the date of the allotment. The securities will be issued on preferential basis.

The transaction has been approved by the board of directors of the company. The transaction still needs to be approved at the extra-ordinary general meeting of members of the company to be held on May 30, 2024.