Standard Engineering Allots 24.4 Lakh Shares for ₹71.5 Cr
Standard Engineering Technology Ltd announced the allotment of 24,39,750 equity shares at an issue price of Rs. 293 per share, aggregating to Rs. 71,48,46,750 (₹71.48 Crore). The allotment was made on a preferential basis to two non-promoter investors, AGI Group Holdings Inc. and Monoflus Pte. Ltd. This preferential issue was approved by shareholders via a special resolution and received in-principle approvals from BSE and NSE. The newly allotted shares will rank pari passu with existing equity shares and will be subject to lock-in provisions.
Key Highlights
- Allotted 24,39,750 equity shares on preferential basis.
- Raised ₹71,48,46,750 (₹71.48 Crore) via the issue.
- Shares issued at a premium of Rs. 283 per share.
- Two non-promoter investors were allotted shares.
- Allotted shares will be listed and traded on stock exchanges.
Price Impact
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