Silgo Retail Limited has informed the Exchange regarding Outcome of Board Meeting held on Jun 03, 2025.
SILGO · price
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Silgo Retail's board approved the allotment of 48.62 lakh equity shares to non-promoters on a preferential basis at Rs. 55 per share, which includes a premium of Rs. 45 over the face value of Rs. 10. The total consideration raised is about Rs. 26.74 crore from 15 allottees, mostly individuals and one entity (Pinnacle Equities Pvt Ltd, which got 10.90 lakh shares). The allotment follows shareholder approval on May 10, 2025 and NSE in-principle approval. As a result, the company's paid-up equity capital rises from Rs. 18.50 crore to Rs. 23.36 crore, expanding the share count from 1.85 crore to 2.34 crore equity shares. The newly issued shares will be subject to SEBI-mandated lock-in periods under Chapter V of the ICDR Regulations.
Existing shareholders face dilution of about 26% as the share count rises sharply, while the company strengthens its equity base by roughly Rs. 26.74 crore. The stock may see short-term pressure due to the equity expansion and eventual supply of locked-in shares post the lock-in period, though the specific use of funds is not disclosed in this filing.