Proposal for raise fund by issuance of Equity Shares
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board of Harish Textile Engineers Ltd, at its meeting on 10 February 2026, approved raising funds by issuing up to 21,23,800 fully paid-up equity shares of face value Rs. 10 each at a price of Rs. 64 per share, aggregating up to about Rs. 13.59 crore. The issue is being made on a preferential/private placement basis to up to 35 allottees from the promoter and non-promoter category, subject to shareholder approval at an EGM on 11 March 2026. A large portion of the shares (about 16 lakh) is being allotted against existing credit balances rather than fresh cash, with promoter Sandeep Gandhi and his family receiving the biggest share. Only about Rs. 6.8 crore worth is being subscribed for actual cash.
Existing shareholders will see their equity diluted by roughly 21.23 lakh new shares, but the promoter-led subscription signals management confidence. Since most shares are being issued against credit balances, actual fresh cash inflow is limited to about Rs. 6.8 crore, which may limit the positive reaction on the stock.