Promoter Group Allotment of 17.31 Lakh Shares via Share Swap at Rs 900 Each
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Kesar India allotted 17,31,752 equity shares to promoter group members Yash Gopal Gupta and Sangeeta Gopalchand Gupta (8,65,876 each) on a preferential basis via share swap at Rs 900 per share against face value of Rs 10. Total issue value about Rs 155.86 crore in non-cash consideration. Paid-up equity capital rises to Rs 34.27 crore comprising 3,42,65,970 shares.
Share swap to promoters raises paid-up capital without fresh cash inflow. Promoter stake consolidated. Watch for swap rationale and underlying asset value.