Allotment of 10,00,000 (Ten Lakh only) Equity Shares of Rs. 10/- (Rupees Ten only) each at an issue price of Rs. 1,500/- (Rupees One Thousand Five Hundred Only) per equity share on preferential basis.
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Midwest Gold Limited's board approved the allotment of 10,00,000 equity shares of Rs. 10 face value at Rs. 1,500 per share on a preferential basis to non-promoter investors, raising Rs. 150 crore in total. The issue price is at a substantial premium of Rs. 1,490 over face value. The shares were allotted to 27 allottees, with the largest being Vikasa India EIF I Fund (Rs. 52 crore), India Emerging Giants Fund Limited (Rs. 20 crore), and Chiranjeev Singh Saluja (Rs. 20 crore). As a result, the company's paid-up equity capital increased from 1,10,47,946 shares to 1,20,47,946 shares. The company already received in-principle approval from BSE on December 18, 2025, and will apply for final listing and trading approval shortly.
The preferential allotment brings in Rs. 150 crore of fresh capital from institutional and high-net-worth investors, strengthening the company's balance sheet. Existing shareholders may see some dilution (~9% increase in share count), but the premium pricing suggests strong investor confidence. This is positive for the stock as it signals institutional interest and capital infusion.