Board of Directors of the Company at their Meeting held today i.e., on 22nd April, 2025 at its Registered Office approved the allotment of 79,00,000 fully paid-up equity shares vide preferential ....
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Fone4 Communications (India) Ltd has allotted 79,00,000 fully paid-up equity shares (face value Rs. 10) at Rs. 15 per share (including Rs. 5 premium) through a preferential issue, raising a total of Rs. 11.85 crore. The shares were allotted to 16 allottees, including promoters Roudha Zerlina (8 lakh shares), Sayyed Hamid (8 lakh shares), and promoter group member Sayyed Haris (4 lakh shares). The remaining 59 lakh shares went to 13 public-category allottees, the largest being Pushpa Bhaju with 21 lakh shares. Post-allotment, promoter holding will dilute from about 57.18% to roughly 45.50%, with the public category collectively holding over 54% of the company. BSE had already granted in-principle approval on 7th April 2025, and listing approval for the newly issued shares will be sought separately.
The company is raising Rs. 11.85 crore through a preferential allotment, which strengthens its capital base but also leads to promoter dilution of around 11.7 percentage points. Existing public shareholders will see their stake reduced proportionally; the issue price at Rs. 15 may be relevant for assessing whether it was priced at a discount or premium to the prevailing market price.