Board approves Rs 1,200 crore QIP and ESOP share allotment
UTLSOLAR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.1 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 board approved raising up to Rs 1,200 crore through a Qualified Institutions Placement of equity shares to institutional buyers, subject to shareholder approval via postal ballot. The funds aim to help meet minimum public shareholding requirements. Separately, the board allotted 4,11,587 equity shares at Rs 398.39 each under ESOP 2023 to eligible employees, raising paid-up share capital from Rs 30.69 crore to Rs 30.73 crore.
Likely equity dilution for existing holders as up to Rs 1,200 crore worth of new shares will be issued, though it helps meet public shareholding norms.