BSEAmalgamated Electricity Company LtdHighNeutral
Announced Thu, 1 Oct, 2026 · 14:24 IST
Board okays Rs 650 cr preferential issue, widens objects clause
Price reaction
Awaiting price reaction for this filing.
AI summary
Board approved adding new business objects covering AI, healthcare, electric vehicles, marketing, and tech support. It cleared a preferential issue of up to 130 crore equity shares at Rs 5 each at par, aggregating Rs 650 crore, to non-promoter QIBs and non-institutional investors. CFO Mangesh Shirodkar resigned. Postal ballot set for Oct 31, 2026, subject to shareholder approval.
Likely market impact
Large dilution at par plus CFO exit. Rs 650 crore raise hinges on shareholder approval via postal ballot.