Starlog Enterprises Limited has informed the Exchange regarding allotment of 30,00,000 equity shares of the Company on preferential basis.
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Starlog Enterprises' board, at its meeting on April 7, 2025, approved the allotment of 30 lakh fully paid-up equity shares at Rs. 50 per share (including Rs. 40 premium) to Yellowstone Investments on a preferential basis, raising Rs. 15 crore in aggregate. This increases the company's paid-up share capital from 1,19,66,985 shares to 1,49,66,985 shares, representing about a 25% expansion in the equity base. The shares will be locked-in as per SEBI ICDR Regulations and are subject to listing/trading approval from BSE. Separately, the board appointed Ms. Gunjan Sanghavi as the new Company Secretary and Compliance Officer (KMP), replacing the previous incumbent. The allotment had received in-principle approval from BSE on March 26, 2025, and follows earlier intimations dated February 21 and March 24, 2025.
Existing shareholders face a ~25% dilution of their equity stake, though the Rs. 15 crore infusion from Yellowstone Investments strengthens the company's capital base. The new KMP appointment is a routine compliance matter with no material price impact expected.