Hubtown Limited has informed the Exchange about General Updates about in-principle approval received from BSE and NSE for issue of 1,46,80,249 equity shares of Rs. 10/- each at a price not less than Rs. 341/- to non- promoters on a preferential basis.
HUBTOWN · price
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Hubtown Limited has received in-principle approval from both BSE and NSE to issue 1,46,80,249 equity shares of Rs. 10 each at a price not less than Rs. 341 per share to non-promoters on a preferential basis. At the floor price, this would raise approximately Rs. 500.6 crore for the company. The issue is being made to non-promoters, meaning existing shareholders will see their holding diluted once the shares are allotted. The pricing floor of Rs. 341 will be the minimum benchmark for the preferential allotment.
This capital raise will dilute existing shareholders' stake but brings in fresh equity funds from non-promoter investors. The actual issue price and identity of investors will influence market sentiment; share price may react based on how the floor price compares to current market levels.