Aarvee Denims & Exports Limited has informed the Exchange regarding Board meeting held on May 17, 2025.Circular Resolution w.r.t. allotment of Equity Shares on Preferential Basis.
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Aarvee Denims and Exports Limited has allotted 23,04,539 equity shares on a preferential basis at ₹134.66 per share (including a premium of ₹124.66), raising approximately ₹31.03 crores in total. The allotment was approved via a circular resolution on May 17, 2025, following shareholder approval received on March 1, 2025, and in-principle approvals from NSE (April 23, 2025) and BSE (May 6, 2025). Shares were distributed among 23 allottees, all classified under the 'Public' category, including individuals, HUFs, a few LLPs, and one private limited company (Komalay Investrade). The allotted shares will be subject to standard lock-in restrictions under SEBI ICDR regulations.
This preferential allotment dilutes existing shareholders by about 23 lakh shares and brings in roughly ₹31 crore to the company, which could be used for business expansion or debt reduction (purpose not disclosed). The lack of any marquee institutional investor and the fact that the price is at a significant premium to face value means the dilution impact depends on how the fresh capital is deployed.