ACI Infocom Board Approves Share Capital Increase & Fundraise
ACI Infocom Limited's Board of Directors has approved several significant corporate actions, including the alteration of its Memorandum of Association (MOA) and Articles of Association (AOA), subject to shareholder approval. The company also approved an increase in its authorized share capital from ₹13.50 Crores to ₹50 Crores. Furthermore, the board greenlit a preferential issuance of 3,20,00,000 equity shares at ₹1.53 per share, aggregating ₹4,89,60,000, to Sanjay Natvarlal Mandavia and Rupal Sanjay Mandavia, who will consequently become promoters and trigger an open offer obligation. Additionally, the company plans to issue up to 29,48,00,000 fully convertible warrants at ₹1.53 per share, aggregating ₹45,10,44,000.
Key Highlights
- Board approved MOA and AOA alterations, pending shareholder nod.
- Authorized share capital increased from ₹13.50 Cr to ₹50 Cr.
- Preferential issue of 3.2 Cr shares at ₹1.53/share approved.
- Issuance of 29.48 Cr warrants at ₹1.53/share also approved.
- Preferential issue triggers open offer and promoter reclassification.
Price Impact
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