Board approves Rs 15.01 crore preferential issue at Rs 415 per share
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The board approved issuing 361,620 equity shares of Rs 10 each at Rs 415 per share to two non-promoter investors, raising Rs 15.01 crore. Allottees are Aniruddha Narayan Malpani and Solidarity Micro Cap Emerging Leader AIF. The price includes a Rs 405 premium and requires shareholder and regulatory approvals.
The funds may support growth, but the new shares will dilute existing shareholders. The issue is not final until required approvals are received.