Kingfa Science & Technology (India) Limited has informed the Exchange about General Updates - Intimation of In-principle Approval received for issue and allotment up to 14,40,920 (Fourteen Lakhs Forty Thousand Nine Hundred Twenty) Equity Shares having face value of INR. 10/-(Indian Rupees Ten only) each to be issued on a Preferential Basis.
KINGFA · price
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Kingfa Science & Technology (India) Limited has received in-principle approval to issue and allot up to 14,40,920 equity shares on a preferential basis. Each share will have a face value of INR 10. This is a private placement to select investors rather than a public offer. The in-principle approval is a preliminary step, and the actual allotment will follow once the company meets remaining regulatory requirements. The total potential issue size at face value is around INR 1.44 crore, though the actual raise will depend on the issue price which is not yet disclosed in this filing.
Preferential allotments typically dilute existing shareholders but bring in capital and possibly strategic investors. Shareholders should watch for the next announcement disclosing the issue price and identity of the allottees, as these details will determine the real dilution and the nature of incoming investors.