Aeroflex allots 30.10 lakh shares at Rs.182.70 via preferential issue
AEROFLEX · price
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On the reaction day the stock moved 3.1 pts more than Nifty Microcap 250 and 4.4 pts more than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Aeroflex Industries allotted 30,10,398 equity shares at Rs.182.70 each via preferential issue, raising about Rs.55 crore from 6 non-promoter allottees. Issue price includes a premium of Rs.180.70 per share. Allottees include marquee investor Ashish Kacholia, Bengal Finance, Sanjay Surana, Vaibhav Shah, Madhu Silica, and Nareshkumar Mehta. Paid-up equity capital rises from Rs.25.86 crore to Rs.26.47 crore.
About 2.3 percent dilution for shareholders. Capital raise strengthens balance sheet. Kacholia's participation is a positive signal.