We hereby submitting the outcome of Board Meeting held on 07th April, 2024
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Rotographics (India) Ltd has allotted 95,50,000 equity shares at ₹11 per share (face value ₹10, premium of just ₹1) to 22 allottees, raising about ₹10.50 crore. A proposed promoter, Shrey Gupta, is taking 53,00,000 shares and will hold about 54.29% of the company after the allotment, indicating a change in control. Several non-promoters, including Securocrop Securities India (16,46,000 shares) and other individuals and entities, are also participating. Following this allotment, the company's paid-up equity capital rises from ₹3.60 crore to ₹13.15 crore, more than tripling the share count from around 36 lakh to 1.31 crore shares.
Existing shareholders will see significant dilution as the share count roughly triples, and a new promoter is set to take majority control of the company. The very low premium (just ₹1 over face value) suggests shares were issued at a modest price relative to face value, which may concern existing retail investors.