Servotech Renewable Power System Limited has informed the Exchange regarding allotment of 200000 securities pursuant to Preferential Issue at its meeting held on April 07, 2025
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Servotech Renewable Power System Limited has allotted 200,000 securities to certain investors under a preferential issue. The allotment was approved at a board meeting held on April 07, 2025. A preferential issue is a private placement of shares or convertible securities to a select group of investors rather than the general public. The company has not disclosed pricing details or the identity of the allottees in this filing.
The preferential allotment increases the company's equity base by 200,000 securities, which may lead to dilution for existing shareholders. Depending on the issue price, this could put short-term pressure on the stock, though it also brings fresh capital into the company.