CCME Global Allots 15 Cr Shares for Cash & Non-Cash Deals
CCME Global Ltd announced the allotment of 15,08,42,244 equity shares, aggregating ₹150.84 Crore (₹150,84,22,440), through a preferential issue. This includes 1,80,00,000 shares for cash amounting to ₹18 Crore, allotted to Mr. Noor Muhammed Habibullah, Mr. Suresh Kumar Ramani, and Mr. Vidhu Mohan Pillai. Additionally, 11,25,00,000 shares were allotted for consideration other than cash against 45% stake in CCME UAE, amounting to ₹112.50 Crore, to Mr. Padmanaban Krishnamoorthy and Mrs. Varalakshmi Venkataraman. A further 2,03,42,244 shares were allotted for consideration other than cash against 52% stake in Interlink Distribution LLC, amounting to ₹20.34 Crore, to Mr. Mostafa Ahmed Kabir. Following these allotments, Interlink has become a subsidiary and CCME UAE an associate of CCME Global. The company's issued, subscribed, and paid-up capital increased to ₹196.09 Crore (₹1,960,922,440).
Key Highlights
- 15.08 Cr shares allotted for ₹150.84 Cr via preferential issue.
- Includes cash allotment of ₹18 Cr and non-cash for CCME UAE & Interlink.
- Interlink becomes subsidiary, CCME UAE becomes associate.
- Total issued capital rises to ₹196.09 Cr.
- Allotted shares rank pari passu with existing equity.
Price Impact
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