Enclosed herewith Announcement under Regulation 30 of SEBI (LODR), 2015 relating to Allotment of 48,50,000 Equity shares
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Sanchay Finvest Ltd's Board has approved and completed the allotment of 48,50,000 equity shares of Rs. 10 each to five non-promoter investors for a total consideration of Rs. 4.85 crore. The allottees include Rushabh Praful Satra, Vrutika Praful Satra, Anil Babubhai Mehta, Shankar Dayal Singh, and Saumya Singh. The company received full subscription money confirmed by statutory auditor. Notably, one proposed allottee, Mr. Sagar Tilokchand Kothari, failed to subscribe to his allocated 12,50,000 shares, and that offer stands withdrawn. The shares are issued under preferential allotment mode per SEBI (ICDR) Regulations, 2018.
This equity infusion of Rs. 4.85 crore will boost the company's capital base and provide liquidity. However, it results in dilution for existing shareholders as fresh shares are issued to non-promoters at face value of Rs. 10 per share.