Pursuant to the Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors in their meeting held today ....
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The Board of Directors of S. M. Gold Ltd, in a meeting held on May 19, 2025, approved the allotment of 32,00,000 equity shares of face value Rs. 10 each at Rs. 21 per share (including Rs. 11 premium) on a preferential basis to non-promoter entities. The total amount raised is Rs. 6.72 crore in cash. The shares were allotted to two entities — Veeram Vendors Pvt Ltd and Veeram Barter Pvt Ltd — each receiving 16,00,000 shares. As a result, the paid-up equity share capital increased from Rs. 10.04 crore (1,00,37,512 shares) to Rs. 13.24 crore (1,32,37,512 shares), representing a dilution of about 31.9%. The new shares will rank pari-passu with existing equity shares.
The preferential issue brings in Rs. 6.72 crore of fresh capital but also expands the share count by nearly 32%, leading to equity dilution for existing shareholders. While the issue price offers an 11% premium over face value (Rs. 21 vs Rs. 10), the absence of promoter participation signals that the capital infusion is coming entirely from non-promoter entities, which existing investors should monitor closely.