Standard Engineering Technology Ltd gets in-principle approval for preferential issue

Standard Engineering Technology Ltd has received in-principle approval from BSE Limited and National Stock Exchange of India Limited for a preferential issue of 24,39,750 equity shares at ₹293 per share. The total issue size amounts to ₹71.49 Crore. The shares will be issued to non-promoter entities, AGI Group Holdings Inc. and Monoflus Pte. Ltd. The company will proceed with the allotment upon receipt of funds and in compliance with SEBI regulations. The exchanges have advised the company to strengthen internal controls and obtain undertakings from allottees regarding trading restrictions.