Asian Hotels (North) Limited has informed the Exchange about receipt of Listing Approval of 23180000 equity shares of Rs. 10/- each allotted on preferential basis
ASIANHOTNR · price
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Asian Hotels (North) Limited has received listing approvals from both BSE and NSE for 2,31,80,000 (2.318 crore) equity shares of Rs. 10/- face value each, allotted on a preferential basis to Elana Holdings Pte. Ltd. (a non-promoter, Singapore-based entity). The shares were issued at a premium of Rs. 320/- per share, implying an issue price of Rs. 330/- per share and a total capital raise of approximately Rs. 76.49 crores. The new shares will be listed and made available for trading once depositories (NSDL/CDSL) confirm credit to beneficiary accounts. This allotment represents a significant expansion of the company's equity base.
The preferential allotment brings in a foreign institutional investor (Elana Holdings Pte. Ltd.) as a new shareholder, strengthening the company's capital base. Existing shareholders will see dilution of their stake due to the large equity issuance (~2.318 crore new shares), but the premium pricing signals investor confidence in the company's valuation.