OnEMI allots 2.65 crore shares via preferential issue
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The board approved issuing 2,64,93,882 fully paid shares to 34 investors at INR 314.11 each. The preferential issue raises INR 8,32,19,93,275.02, about INR 832.20 crore. The share count rose from 17,81,14,102 to 20,46,07,984, and the new shares carry the same rights as existing shares.
Adds about INR 832 crore of cash, but expands share count by 14.9% and dilutes existing holders' ownership and voting power.