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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The company completed two preferential allotments totaling 27.05 crore equity shares at Rs. 10 per share. First, 40 lakh shares (Rs. 4 crore cash) were allotted to Northvale Capital Partners Private Limited (Promoter). Second, 26.64 crore shares were allotted to 17 allottees (E-Tunnel shareholders) via a share swap at 1:121 ratio for acquiring 100% stake in E-Tunnel Inc., a South Korean company, for non-cash consideration worth Rs. 266.4 crore. Post-allotment, share capital increased from 1.5 lakh shares to 27.05 crore shares, with Northvale Capital + PACs holding 73.72% and public holding 26.28%.
Massive dilution of ~18,000x from 1.5 lakh to 27.05 crore shares. Promoter holding rises to 73.72%, reducing public float to 26.28%. The company pivots into E-Tunnel (a South Korean entity) via a share-swap acquisition, fundamentally changing the business profile.