Whalesbook
The company's Rights Issue Committee has approved the allotment of shares following its successful ₹22.04 crore capital raise. The rights issue, which opened on March 13, 2026, and closed on March 23, 2026, saw significant investor demand, closing oversubscribed by 100.79%.
The committee officially approved the share allotment on March 24, 2026. Under the issue, 29,38,500 shares were allotted at a price of ₹75 per share, which included a share premium of ₹65.
Following this allotment, the company's paid-up share capital has increased to ₹8.82 crore. This capital infusion is anticipated to bolster the company's financial health and provide resources for future operations or growth.
While this successful capital raise indicates investor confidence, shareholders who did not participate in the rights issue may see their proportionate ownership diluted. The market will be observing how effectively the company utilizes the newly raised funds.