Dynamatic Technologies Subsidiary to Issue Shares Worth ₹90 Cr
Dynamatic Technologies Limited's board approved a preferential issue by its wholly-owned subsidiary, Dynauton Limited. Dynauton will issue 89,90,000 equity shares of face value ₹10 each. The issue is priced at ₹50 per share for identified subscribers, totaling ₹44.95 Crore (44,950,000 shares * ₹50), to fund R&D for autonomous technology systems and the acquisition of the UAV Vertical. An additional 11.11% stake will be offered to the Dynauton ESOP Trust at ₹10 per share, totaling ₹11.11 Crore (10,000,000 shares * ₹10), to incentivize talent. The company's stake in Dynauton will reduce from 100% to approximately 83.33%. The UAV Vertical will also be transferred to Dynauton on a slump sale basis. The Founder, Dr. Udayant Malhoutra, will subscribe to shares at ₹50 per share, representing approximately 5.56% of Dynauton.
Key Highlights
- Dynauton Limited proposes a preferential issue of equity shares.
- Funds will support R&D and acquisition of UAV Vertical.
- Company's stake in Dynauton to reduce to ~83.33%.
- ESOPs to be issued to incentivize key talent.
- Founder to subscribe to shares at preferential price.
Price Impact
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