Beryl Securities shareholders approve preferential share issue
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On the reaction day the stock moved 2.9 pts more than Nifty Microcap 250 and 2.3 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Beryl Securities shareholders approved a preferential issue of up to 12,95,635 equity shares at Rs.23 each (face value Rs.10, premium Rs.13), aggregating up to Rs.2.98 crore. Allotment will be to identified promoter and non-promoter/public shareholders. Proceeds to fund MSME lending and general corporate purposes.
Modest equity dilution of about Rs.2.98 crore. Capital infusion to support NBFC lending operations and working capital needs.