Promoter group allotted 23.9 lakh shares at Rs 20.47, raising about Rs 4.89 crore
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By the next day the stock moved 18.2 pts less than Nifty Microcap 250 and 16.8 pts less than its Trading & Distributors peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board allotted 23,90,000 equity shares at Rs 20.47 each (face value Rs 10, premium Rs 10.47) to 8 promoters and promoter group members on a preferential basis, raising about Rs 4.89 crore. Promoter holding rises from 44.35% to 49.21%, and paid-up equity capital grows from about Rs 24.98 crore to Rs 27.37 crore. Managing Director Faizal Bavaraparambil Abdul Khader received the largest chunk at 13 lakh shares. Listing approval for the new shares will be sought from the exchange.
Promoter stake rises to 49.21% from 44.35%, showing promoter confidence and tightening free float. About 9.6% share count expansion, modest dilution for non-promoters.