Intimation under Reg 30 of SEBI LODR - Receipt of In principal approval under Reg 28(1) of SEBI LODR Reg for proposed Preferential Issue of the Company
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Royal Cushion Vinyl Products Ltd has received in-principle approval from BSE for issuing up to 46,36,500 fully paid-up equity shares to private (non-promoter) investors on a preferential basis. The shares have a face value of Rs. 10 each and will be issued at a price not less than Rs. 30 per share, implying a minimum issue size of approximately Rs. 13.9 crore. The approval was granted on June 4, 2025, following the company's application on April 3, 2025, under SEBI's ICDR Regulations. The company must still complete the allotment, post-issue listing formalities, and strengthen internal controls to prevent any non-compliant trading by the allottees before the allotment date.
This is a regulatory clearance step, not the actual allotment. Once completed, the preferential issue will dilute existing shareholders by adding new equity capital from non-promoter investors. For shareholders, it signals the company is raising fresh equity, though the impact on stock price will depend on the final issue price relative to market price and the identity of incoming investors.