In-principle approval for preferential issue of 49.5 lakh equity shares
ACSTECH · price
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BSE has granted in-principle approval to ACS Technologies for issuing 49,50,495 equity shares of INR 10 each at a floor price of INR 40.40 per share to non-promoters on a preferential basis. This approval is a regulatory step before the actual allotment. The company still needs to complete the allotment process and then file for listing of the new shares. This is a preferential allotment to selected non-promoter investors, not a public issue.
Issuing 49.5 lakh shares to non-promoters at a minimum of INR 40.40 will dilute existing shareholders' holdings.