KOTIC · price
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Kothari Industrial Corporation Ltd has allotted 10,15,000 fully paid-up equity shares of face value Rs. 5 each at Rs. 38.50 per share (including a premium of Rs. 33.50), aggregating to about Rs. 3.91 crore. The shares were issued on a preferential basis to two allottees: Ranveer Kumar (10,00,000 shares) and Gunaseelan (15,000 shares). This follows board approval on February 19, 2025, shareholder approval via EGM on March 14, 2025, and BSE in-principle approval on March 24, 2025. This is the second tranche of a larger approved issuance of 1,60,49,220 equity shares, with 1,50,34,220 shares already allotted on March 27, 2025.
This is a small preferential allotment (Rs. 3.91 crore) to two specific individuals, which will lead to a minor dilution of existing shareholders. The large gap between issue price (Rs. 38.50) and face value (Rs. 5) reflects a healthy premium being paid by the allottees.