Rossell Techsys allots 25.73 lakh shares to SBI funds at INR 1,166
ROSSTECH · price
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On the reaction day the stock moved 2.0 pts less than its Aerospace & Defense peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Rossell Techsys allotted 25,72,898 fully paid shares at INR 1,166 each, including an INR 1,164 premium, to SBI Mutual Fund schemes. The preferential issue raised INR 299.99 crore in cash. Paid-up capital rose to INR 8.05 crore and shares to 4.03 crore, with the allottees holding 6.39%. The shares carry equal dividend and voting rights.
The issue adds about INR 300 crore of cash but dilutes existing shareholders by 6.39%. Listing approval is still pending.