Pursuant to the Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that Board of Directors in their meeting held today have ....
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S. M. Gold Ltd's Board of Directors, in a meeting held on 19 May 2025, approved the allotment of 32,00,000 fully paid-up equity shares on a preferential basis to non-promoter entities. The shares were issued at Rs. 21 each (face value Rs. 10 + Rs. 11 premium), raising a total of Rs. 6.72 crores in cash. The allottees are Veeram Vendors Private Limited and Veeram Barter Private Limited, each receiving 16,00,000 shares. Following this allotment, the company's paid-up equity share capital increased from Rs. 10.04 crores (1,00,37,512 shares) to Rs. 13.24 crores (1,32,37,512 shares). The newly issued shares will rank pari-passu with the existing equity shares.
Existing shareholders will see a dilution of roughly 32% in their holding as the share count rises from about 1 crore to 1.32 crore shares. The company raises Rs. 6.72 crores from two non-promoter entities, which could strengthen its capital base, though the substantial preferential issuance at a premium suggests the funds were needed for business purposes.