Allotment of Equity Shares on Preferential Basis.
Price
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On May 20, 2025, the board of Azad India Mobility Ltd approved the allotment of 53,17,529 equity shares at Rs. 98 per share (face value Rs. 10) on a preferential basis to 64 non-promoter allottees. The total issue size is approximately Rs. 52.11 crore. Two institutional investors — Altitude Investment Fund PCC-Cell 1 (25.5 lakh shares) and North Star Opportunities Fund VCC-Bull Value Incorporated VCC Sub-Fund (12.86 lakh shares) — together account for about 72% of the allotment, while the remaining ~28% is distributed among 62 individuals in small lots ranging from 3,000 to 1.5 lakh shares. The company was formerly known as Indian Bright Steel Co Limited.
The preferential allotment will lead to dilution of existing shareholders but brings in roughly Rs. 52 crore of fresh capital to the company. Significant participation by two offshore institutional funds is a moderately positive signal of external investor interest, though the stock may see short-term pressure due to equity dilution at a fixed price.