Investment4 Mar 2025, 02:32 am
Azad Engineering Ltd Approves Allotment of 5,468,750 Equity Shares Worth ₹ 7000 Million to Eligible QIBs
AI Summary
Azad Engineering Ltd announced the outcome of the meeting of the Securities Issue Committee regarding the allotment of 5,468,750 equity shares of face value of ₹ 2 each. The committee approved the allotment of 5,468,750 equity shares at a price of ₹ 1280 per share, including a premium of ₹ 1278 per share, to eligible qualified institutional buyers (QIBs). The issue price of ₹ 1280 per equity share includes a discount of ₹ 23.08 per equity share or 1.77% to the floor price. The paid-up equity share capital of the company increases from ₹ 118,225,986 to ₹ 12,91,63,486 after the allotment.
Key Highlights
- Azad Engineering Ltd approved the allotment of 5,468,750 equity shares worth ₹ 7000 million to eligible QIBs.
- The allotment price is ₹ 1280 per equity share, including a premium of ₹ 1278 per share.
- The issue price includes a discount of ₹ 23.08 per equity share or 1.77% to the floor price.
- The paid-up equity share capital of the company increases from ₹ 118,225,986 to ₹ 12,91,63,486.
- The list of allottees who have been allotted more than 5% of the equity shares issued in the QIP will be submitted to the stock exchange.