Allotted 59.76 lakh shares at Rs 502 each via preferential route, raising Rs 300 cr
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On the reaction day the stock moved 0.2 pts less than Nifty Microcap 250, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The Fund-Raising Committee allotted 59,76,096 equity shares at Rs 502 per share (face value Rs 10) on a preferential basis, raising about Rs 300 crore. Allottees include 24 entities such as Kotak Mahindra Trustee, WhiteOak Capital funds, 360 ONE PIPE, ValueQuest, and Ashoka India Equity Trust. The new shares rank equally with existing shares. Paid-up equity capital rises from Rs 69.26 crore to Rs 75.24 crore.
About 8 percent equity dilution. Capital raised at premium from reputed funds signals confidence, but increased share supply may weigh on short-term price.