Disclosure of In-principal Approval received from BSE Limited for issue of 58,00,000 Equity Shares of Re. 1/- each at a price Rs. 6/- to Promoters and Non Promoters on Preferential basis.
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Achyut Healthcare Ltd has received in-principle approval from BSE for issuing 58,00,000 equity shares of Re. 1 each at a price not less than Rs. 6 per share to promoters and non-promoters on a preferential basis. The total potential raise is approximately Rs. 3.48 crore. This is a preferential allotment under SEBI ICDR Regulations, not a public issue. The company must now complete allotment and file a listing application within 20 days of allotment.
This preferential issue will dilute existing shareholders, with promoter and non-promoter investors coming in at Rs. 6/share. The capital raise is relatively small (~$0.4 million), but the inclusion of non-promoters in a preferential allotment is worth monitoring for any new strategic shareholders entering the company.