Allotment of equity shares
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
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Midwest Gold Limited's board, at a meeting on March 30, 2026, approved the allotment of 4 lakh equity shares of Rs. 10 each at an issue price of Rs. 2,000 per share on a preferential basis. All shares were issued to two promoter-group allottees — Kollareddy Rama Raghava Reddy (3.75 lakh shares) and Kollareddy Ranganayakamma (25,000 shares) — raising a total of Rs. 80 crore. As a result, the company's paid-up equity capital increased from 1,24,98,696 shares to 1,28,98,696 shares. BSE had already granted in-principle approval for the preferential issue on March 25, 2026.
This is a promoter-led capital infusion of Rs. 80 crore, which signals promoter confidence and strengthens the company's balance sheet. The allotment will dilute existing shareholders by roughly 3.2%, but since it is entirely promoter-funded, it reduces concerns about value leakage to external parties.