Allotment of Equity share on Preferential Basis
Price
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Awaiting price reaction for this filing.
Cospower Engineering Ltd has allotted 1,62,000 equity shares to Swapna Gunda, a non-promoter public-category investor, at Rs. 990 per share (face value Rs. 10). The total consideration raised is approximately Rs. 16.04 crore in cash. The allotment was approved at the Board meeting held on February 9, 2026, under the preferential issue route as per SEBI (ICDR) Regulations, 2018. A single investor received the full allocation, and the company did not specify the intended use of proceeds in this filing. The issue price represents a steep premium of nearly 99 times the face value of the share.
Minor equity dilution for existing shareholders as the company issues 1.62 lakh fresh shares to a non-promoter investor, raising ~Rs. 16 crore at a significant premium to face value. Watch for clarification on the end-use of funds and any further preferential allotments that could increase dilution.