Board plans up to Rs 900 crore equity raise and 26% semiconductor stake sale
RPTECH · price
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The board approved raising up to Rs 900 crore via an institutional placement, preferential issue or other permitted route, subject to shareholder approval. It increased authorised capital to Rs 50 crore and approved selling 26% of Rashi Semiconductor Solutions to Restar. Standalone September-quarter revenue was Rs 570.75 crore, up from Rs 401.87 crore; profit was Rs 15.29 crore, including a Rs 4.14 crore exceptional gain.
The equity issue may dilute holders and pressure the stock. It could fund expansion, while the semiconductor stake sale brings capital and support.