Centrum Capital Limited has informed the Exchange about Preferential issue
CENTRUM · price
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On the reaction day the stock moved 0.8 pts less than Nifty Microcap 250 and 0.3 pts less than its Other Financial Services peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Centrum Capital's board approved raising about ₹172.56 crores through a preferential issue of up to 5.02 crore equity shares at ₹34.38 per share (₹1 face value plus a ₹33.38 premium). All shares will be allotted to 55 non-promoter investors, subject to shareholder approval. The list includes several institutional funds such as Negen Undiscovered Value Fund (72.7 lakh shares), Prisach Consultants LLP (58.2 lakh shares), LC Pharos Multi Strategy Fund, Neo Special Credit Opportunities Fund, and Kitara India Growth Fund. Individual investors and HUFs account for the remaining allocations. The issue will be carried out under SEBI ICDR Regulations.
This will dilute existing shareholders by issuing around 5 crore new shares, but brings in marquee institutional investors, which may be viewed positively if the capital is used for growth. Shareholders will need to approve the issue at a general meeting.