ASM Technologies allots 10.79 lakh shares at Rs 4,875 via preferential issue
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On the reaction day the stock moved 2.5 pts less than Nifty Microcap 250 and 2.7 pts less than its Computers - Software & Consulting peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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ASM Technologies raised about Rs 526 crore via preferential allotment of 10,78,974 equity shares at Rs 4,875 each (Rs 4,865 premium) to four investors led by SBI Mutual Fund schemes and SBI Emergent India Fund. Other allottees are Derive Trading and Resorts and Asha Mukul Agrawal. Paid-up equity capital rose from Rs 14.59 crore to Rs 15.67 crore, expanding share count from 1.46 crore to 1.57 crore. Shares will list on BSE.
Strong institutional validation from SBI Mutual Fund at a huge premium, but share count expands around 7.4 percent, causing mild dilution for existing holders.