In terms of Regulation 28(1) of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 with regard to the issuance of Preferential Shares, we would like to inform you that ....
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Awaiting price reaction for this filing.
Logica Infoway Ltd has informed BSE that it received in-principle approval from the exchange on February 18, 2025, for issuing shares on a preferential basis to promoters and non-promoters. As per the BSE approval letter, the shares will carry a face value of Rs. 10 each and will be issued at a price not less than Rs. 232.30 per share, which is a steep premium over face value. The filing dated April 7, 2025, is an intimation of that earlier approval being formally recorded. The BSE letter also flags a past non-compliance with Regulation 160(f) of the SEBI ICDR Regulations, 2018, which the company has been warned to avoid going forward.
This is a procedural disclosure — the exchange approval was already granted months ago, so there is no fresh catalyst. If the preferential allotment goes through, existing shareholders will face dilution, though the strong premium over face value suggests the company is raising capital at a healthy valuation for the allotted parties.