Allotment of 4969000 equity shares on Preferential basis to Non Promoter Group
FINKURVE · price
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Finkurve Financial Services Ltd has allotted 49,69,000 equity shares of face value Re. 1 each at an issue price of Rs. 78 per share (including a premium of Rs. 77) on a preferential basis to 35 non-promoter allottees, raising approximately Rs. 38.76 crores. The largest single allottee is Sandeep Kapadia with 14 lakh shares (Rs. 10.92 crores), followed by NVS Corporate Consultancy Services (5.04 lakh shares, Rs. 3.93 crores) and VJTF Eduservices (3 lakh shares, Rs. 2.34 crores). The allotment was approved by shareholders at an EGM held on January 8, 2025, and received BSE in-principle approval on May 13, 2025. Post-allotment, the total equity share count rises from 1,50,14,000 to approximately 1,99,83,000 shares, a dilution of about 33%. The shares will be subject to SEBI-mandated lock-in periods.
Existing shareholders face roughly 33% dilution due to this preferential issue, though the company raises fresh capital of about Rs. 38.76 crores at a significant premium to face value. No use-of-proceeds is disclosed in this filing, so the actual value creation will depend on how the company deploys these funds.