Announced Mon, 21 Sept · 17:35 IST
In-principle nod for preferential issue of 34.68 lakh shares to promoter group
KECL · price
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Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹118.90
prior close
₹120.80
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
+1.3+3.5+3.5+1.6——————————
Up moveDown movePending
AI summary
Kirloskar Electric has received in-principle approval from BSE and NSE to issue 34,68,007 equity shares of Rs. 10 face value to promoter group firm Kirloskar Power Equipments on a preferential basis at a floor price of Rs. 115.34 per share, taking the total issue size to around Rs. 40 crore. The allotment is still pending and must comply with SEBI ICDR rules.
Likely market impact
Promoter group stake will rise after allotment, leading to some dilution for existing public shareholders. Seen as a sign of promoter confidence in the business.