Board approves preferential issue worth about 346 crore for Automech acquisition

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

+2.2%Reaction day

₹4.56

prior close

₹4.60

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+1.3%+0.9% vs market

Iron & Steel Products peers, median of 102sector+0.5%+1.7% vs sector

On the reaction day the stock moved 0.9 pts more than Nifty Microcap 250 and 1.7 pts more 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

Stock

+1.5

10m

+1.7

15m

+1.5

30m

-2.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.2+1.3+0.9+0.5+1.7

Next day

+0.2-0.2+0.4-0.2+0.4

-1.8+0.1-1.8+0.1-1.9

-3.5-1.5-2.0-1.1-2.5

-1.8-0.5-1.3-0.4-1.3

+0.0-0.8+0.8-0.6+0.6

-3.7-2.0-1.7-3.9+0.1

15d

-12.5-3.4-9.1-3.7-8.8

-19.7-9.9-9.8-10.2-9.5

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UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 102Pending

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

AI summary

Board approved raising authorised capital from 200 to 250 crore rupees. Approved preferential issue of about 346 crore at Rs. 5 per share (Rs. 1 face value plus Rs. 4 premium). Includes 140 crore cash equity to promoter and non-promoters, 166.40 crore equity via share swap to Mr. Jagjit Gouri for 21.62 percent stake in Automech Group, and 40 crore convertible warrants to promoter Mr. Naresh Kumar Bansal. SPA amendment extends Automech acquisition completion to December 15, 2026.

Likely market impact

Large dilution from preferential issue and warrants. Equity raise partly funds UAE diversification through Automech Group deal.