Allotment of 52,66,537 Equity Shares of Rs. 10/- each at Rs. 50/- per share (consisting of Rs. 10/- face value and Rs. 40/- premium per share) to the Strategic Investors on Preferential ....
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The Board of RNIT AI Solutions approved the allotment of 52,66,537 equity shares of face value ₹10 each at ₹50 per share to strategic investors in the public (non-promoter) category, as part of the NCLT-approved Resolution Plan. This includes a ₹40 premium per share over face value, raising about ₹26.33 crore. Allottees include 18 entities such as Sageone-Flagship Growth OE Fund (10 lakh shares), Anupama K Katkar (7 lakh), and several HNIs and trusts, with no single allottee crossing 1.62% post-allotment holding. The company, formerly Autopal Industries, is undergoing a restructuring under the resolution plan approved by NCLT Jaipur on September 23, 2024.
Dilution for existing shareholders as the equity base expands by roughly 6-7%, but fresh capital from strategic investors strengthens the balance sheet and supports the revival plan post-NCLT resolution. The presence of a dedicated growth fund (Sageone) and several repeat investors signals confidence in the company's turnaround story.