Corrigendum to EGM Notice: Updated Preferential Issue Allottee Details

Board & Shareholder Meetings View source PDF

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AI summary

Dee Development Engineers refiled a corrigendum to its June 3 EGM notice after BSE and NSE observations on the proposed preferential equity issue. EGM is on June 27 at 1 PM via VC. The update revises pre and post-issue shareholding and the allottees list. Post-issue share capital rises to Rs 75.24 crore across 7.52 crore shares of Rs 10. Promoter holding drops from 70.18 to 65.13 percent. Allottees include promoter Krishan Lalit Bansal plus Kotak Multi Asset, WhiteOak, ValueQuest, 360 ONE, Ashoka, and other funds.

Likely market impact

Preferential issue will dilute promoter stake by about 5 percentage points. Shareholders should review revised allottee list before EGM vote on June 27.