Standard Engineering Tech Approves Preferential Allotment of Equity Shares
Standard Engineering Technology Limited (formerly Standard Glass Lining Technology Limited) announced that its Board of Directors, in a meeting held on July 11, 2026, approved the raising of funds through preferential allotment of equity shares. The company will issue up to 24,39,750 shares at ₹293 per share for cash, and up to 22,18,431 shares at ₹293 per share to M/s. Truplusco India LLP for consideration other than cash via a share swap. Additionally, the Board approved increasing limits for creation of charge on assets and inter-corporate loans/investments, subject to shareholder approval via special resolution. An Extra Ordinary General Meeting is scheduled for August 10, 2026, with the register of members closed from August 7-9, 2026.
Key Highlights
- Board approved preferential issue of up to 24.40 lakh shares for cash.
- Board approved preferential issue of up to 22.18 lakh shares via share swap.
- Limits for asset charges and inter-corporate loans to be increased.
- EGM scheduled for August 10, 2026, for shareholder approvals.
- Record date for EGM set as August 3, 2026.
Price Impact
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