Project Update27 May 2026, 02:31 pm
Subam Papers Revises Project Cost to ₹104.37 Cr Due to Under-Subscription
AI Summary
Subam Papers Ltd revised its project cost for a preferential issue due to under-subscription of equity shares. Originally, the company aimed to raise ₹107.04 Cr, but received ₹74.36 Cr. Due to a shortfall of ₹2.66 Cr in equity issue proceeds, the board reduced the allocation towards General Corporate Purposes from ₹4.03 Cr to ₹1.36 Cr. Consequently, the overall project cost/fund utilization is revised from ₹107.04 Cr to ₹104.37 Cr.
Key Highlights
- Subam Papers faced under-subscription in its preferential equity issue.
- Revised project cost decreased from ₹107.04 Cr to ₹104.37 Cr.
- Allocation for General Corporate Purposes reduced by ₹2.67 Cr.
- Company received ₹64.36 Cr against the proposed ₹67.02 Cr from equity shares.
Price Impact
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