Announced Fri, 26 Jun · 18:18 IST
Board approves Rs 150 crore preferential issue, allots shares to promoter
Board & Shareholder Meetings View source PDF
KMEW · price
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AI summary
Board approved issuing up to 7,64,317 equity shares at Rs 1,962.53 each (about Rs 150 crore total) to 4 non-promoters including 360 One Pipe Fund and Bank of India funds. Also allotted 1,55,892 shares (Rs 11.10 crore) to promoter Sujay Kewalramani via warrant conversion. Paid-up equity rose from 2.44 crore to 2.46 crore shares. EOGM on July 19.
Likely market impact
About 3% dilution from preferential issue to institutional investors, plus small promoter warrant conversion. Subject to shareholder approval at July 19 EOGM.