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Awaiting price reaction for this filing.
The board of Synthiko Foils Limited approved issuing up to 1,36,08,849 equity shares at Rs. 769.16 per share (face value Rs. 10, premium Rs. 759.16), aggregating to roughly Rs. 1,047 crore on a preferential basis. The shares are being issued not for cash but as consideration for acquiring 100% stake in DC&T on a fully diluted basis from the sellers. A total of 194 allottees have been identified, including 3 promoter/promoter group entities and 191 non-promoter investors. The issue is subject to shareholder and other regulatory approvals.
Existing shareholders will face significant dilution as over 1.36 crore new shares will be issued. The deal is an acquisition-driven share issuance, so no fresh cash comes into the company — value creation depends entirely on how DC&T performs after being absorbed into Synthiko Foils.