Issue of 52,66,537 Equity Shares of face value Rs. 10/- each on a Preferential Basis to the Strategic Investors, being the second tranche out of the total 1,00,00,000 Equity Shares proposed ....
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RNIT AI Solutions Ltd (formerly Autopal Industries Ltd) has approved the issue of 52,66,537 equity shares at ₹50 each (face value ₹10, premium ₹40) to strategic investors under the public category. This is the second tranche of a planned total of 1,00,00,000 shares, with this tranche raising approximately ₹26.33 crores. The allotment is being carried out under a Resolution Plan approved by the NCLT Jaipur Bench on September 23, 2024, under the Insolvency and Bankruptcy Code, 2016, indicating the company is in its post-insolvency revival phase. 18 allottees are part of this tranche, including Sageone-Flagship Growth OE Fund (10 lakh shares), several members of the Katkar family, and other individuals and entities.
Existing shareholders will see dilution as the company expands its equity base, but the fundraising supports the company's revival after insolvency. The presence of a growth-oriented fund and multiple strategic investors signals external confidence in the post-restructuring business.