Board approves 15.34 cr share preferential issue for 21.62 percent Automech stake

Fund Raising View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-7.3%Reaction day

₹8.10

prior close

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announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-0.8%-6.5% vs market

Iron & Steel Products peers, median of 95sector-0.6%-6.7% vs sector

On the reaction day the stock moved 6.5 pts less than Nifty Microcap 250 and 6.7 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 95Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Board approved issuing 15,34,50,146 equity shares at Rs. 10.25 each (including Rs. 9.25 premium) to non-promoter Ms. Jagjit Gouri via preferential allotment. Proceeds will fund acquisition of 21.62 percent stake in Automech Group Holding Limited through private placement. Allottee will hold 8.58 percent post-issue on fully diluted basis. Also appointed Rakesh Chaturvedi as Executive Director for 5 years. Subject to shareholder and regulatory approvals.

Likely market impact

Equity dilution of about 8.58 percent for a non-promoter investor. Acquisition may diversify business. Subject to EGM and SEBI approvals.