Team India Guaranty Limited has informed the Exchange about Preferential issue
TEAMGTY · price
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Team India Guaranty Limited's board has approved the allotment of 22,48,270 fully paid-up equity shares (face value ₹10 each) on a preferential basis to 25 allottees for consideration other than cash, indicating this is likely a share swap for an acquisition rather than a cash capital raise. The shares are priced at ₹285 each, carrying a premium of ₹275 over face value and slightly above the SEBI-determined floor price of ₹277.04 per share. Together, the allottees will hold 20% of the company post-allotment, with the largest being Curesense Therapeutics Pvt Ltd (6.42%), Amit Tewary (5.85%), and Ajit Sinha (4.84%). The total implied value of the issue is roughly ₹64.07 crore. Most allottees are individuals, with no publicly identifiable marquee institutional investor named.
Existing shareholders will face around 20% dilution as the preferential shares are issued, but no fresh cash comes into the company since the consideration is non-cash — the stock could react to the underlying purpose (likely an acquisition) rather than to capital raised.