The Company has received in principle approval letter from BSE limited for the issue of 11,75,600 equity shares on preferential basis on 15/05/2025. A copy of the same is attached for your reference.
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Sunrakshakk Industries India Ltd has received in-principle approval from BSE for issuing 11,75,600 equity shares on a preferential basis at a floor price of Rs. 840 per share (face value Rs. 10). The shares will be allotted to promoters and non-promoters. At the minimum price, the issue size works out to roughly Rs. 98.65 crore. This is only an in-principle clearance from the exchange; the company still needs to complete allotment and file a separate listing application within 20 days of allotment. The approval letter also asks the company to strengthen internal controls and obtain undertakings from allottees to prevent trading violations ahead of allotment.
Existing shareholders may see dilution once the preferential shares are allotted, but the high floor price (Rs. 840 vs face value of Rs. 10) suggests promoter confidence and a strong valuation. The stock could see short-term volatility around the allotment and lock-in expiry dates.