Spectrum Electrical gets in-principle nod for ₹325 Cr preferential issue
Spectrum Electrical Industries Limited has received in-principle approval from NSE and BSE for a preferential issue. The company plans to issue up to 13,73,625 equity shares at ₹2,002 each, aggregating up to ₹274.99 crore, and up to 2,49,750 convertible warrants at ₹2,002 each, aggregating up to ₹49.99 crore. The total issue size is approximately ₹324.99 crore. The approval is subject to fulfilling several conditions, including obtaining statutory approvals and strengthening internal controls to monitor trades by proposed allottees.
Key Highlights
- In-principle approval received from NSE and BSE for preferential issue.
- Issue includes equity shares and convertible warrants for cash.
- Total fundraising target is approximately ₹324.99 crore.
- Approval is conditional on regulatory compliance and internal controls.
Price Impact
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