KOTIC · price
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Awaiting price reaction for this filing.
The Board of Kothari Industrial Corporation has approved the allotment of 11,31,068 equity shares of face value Rs. 5 each at an issue price of Rs. 207 per share (including a premium of Rs. 202 per share), aggregating to around Rs. 23.41 crore. The shares have been allotted on a preferential basis to non-promoter investors, in line with SEBI's ICDR Regulations. A list of allottees and the pre/post-issue shareholding pattern has been filed as Annexures A and B.
The preferential allotment brings in roughly Rs. 23.41 crore of equity capital from non-promoter investors, which strengthens the company's capital base but also results in dilution for existing shareholders. The substantial premium of Rs. 202 per share above face value signals that the allottees see long-term value in the stock.