Midland Polymers: Radha Krishna Avudari acquires 20.65% diluted stake
Radha Krishna Avudari, a promoter of Midland Polymers Ltd, has acquired 29,86,248 equity shares and 22,00,000 warrants through a preferential allotment. This acquisition, made on a cash and swap basis, results in a total holding of 51,86,248 securities. Post-acquisition, Avudari's stake represents 18.64% of the equity share capital and 20.65% of the total diluted share capital of Midland Polymers Ltd. The disclosure was made under Regulation 29(1) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011. The company's equity share capital increased significantly after this allotment.
Key Highlights
- Promoter Radha Krishna Avudari acquired shares and warrants.
- Acquisition was made via preferential allotment.
- Total diluted stake now stands at 20.65%.
- Acquired 29.86 lakh equity shares and 22 lakh warrants.
- Company's equity capital significantly increased post-allotment.
Price Impact
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