Affordable Robotic & Automation Limited has informed the Exchange about Memorandum of Understanding/Agreements
AFFORDABLE · price
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On the reaction day the stock moved 1.1 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Affordable Robotic & Automation Limited has signed a Term Sheet/MoU with Sai Green Mobility Private Limited for a proposed preferential issue of securities totalling INR 15 Crore at approximately Rs. 248 per share. The investment is subject to satisfactory due diligence, board approval, shareholder approval, and execution of definitive documents. The company says this move is aimed at strengthening its capital base and accelerating its growth plans. Sai Green Mobility will be identified as the investor once all conditions are met.
Positive for the company as it brings in fresh capital to fund growth, but the share price and number of securities to be issued are not yet finalised. Existing shareholders may see dilution once the preferential issue is completed, subject to required approvals.