Preferential Allotment of Equity Shares Pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015.
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S. M. Gold Ltd's board, at its meeting on 19th May 2025, approved the allotment of 32,00,000 (32 lakh) equity shares on a preferential basis at ₹21 per share, which includes a premium of ₹11 over the face value of ₹10. The total issue size comes to about ₹6.72 crore in cash. All the shares are being allotted to two private companies — Veeram Vendors Private Ltd and Veeram Barter Private Ltd — with each receiving 16 lakh shares. The allotment is being done under the SEBI ICDR Regulations and Companies Act, 2013 provisions.
Existing shareholders will face dilution due to the issuance of 32 lakh new shares, and the promoter/investor base is being widened with two private companies entering the cap table. The capital raised is modest (~₹6.72 crore) and fully cash-funded, which is mildly positive for liquidity but may pressure the stock in the short term given the preferential nature of the issue.