Board approves allotment of 3.04 crore rights shares at Rs 40

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Price reactionminutes from the announcement price · days from the prior close

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prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.3%+0.5% vs market

Residential Commercial Projects peers, median of 60sector+0.1%+0.1% vs sector

On the reaction day the stock moved 0.5 pts more than Nifty Microcap 250 and 0.1 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

The board approved allotment of 3,03,74,088 fully paid rights shares to eligible shareholders and renouncees at Rs 40 each, including Rs 38 premium. The issue raised Rs 12,149.64 lakh, about Rs 121.50 crore. Paid-up shares increased from 5,06,23,480 to 8,09,97,568.

Likely market impact

Share count rises about 60%, strengthening paid-up capital but reducing non-participating shareholders' ownership and potentially diluting earnings per share.