Key Quantitative Figures
- Total shares to be issued: 8,48,600 equity shares
- Issue price per share: ₹25
- Total issue proceeds: ₹2,12,15,000 (₹2.12 crore)
- Pricing formula compliance:
- 90-day VWAP: ₹24.86
- 10-day VWAP: ₹23.54
- Issue price of ₹25 is higher than both calculated prices
- Post-issue stake dilution: 4.708% of total share capital
Parties Involved
- Stock Exchanges: BSE Limited, National Stock Exchange of India Limited
- Registrar and Transfer Agent: Venture Capital and Corporate Investments Private Limited
- Pricing Certificate Provider: M/s. P S Rao & Associates, Practising Company Secretaries
- Allottees:
1. Satrasala Lavanya Gupta - 2,12,150 shares (1.177% post-issue)
2. Perla Ambica Ramachandran - 2,12,150 shares (1.177% post-issue)
3. Alapati Karthik - 2,12,150 shares (1.177% post-issue)
4. Hanuma Kumar Alapati Lakshmana Ramachandra Ambica Eswar - 2,12,150 shares (1.177% post-issue)
Purpose and Utilization of Proceeds
The entire proceeds of ₹2,12,15,000 raised through the preferential issue will be utilized exclusively for working capital requirements to support the business plans of the company. The utilization is scheduled to be completed within 3 months from the date of allotment of equity shares to the respective allottees.
Capital Structure Impact
All four allottees currently hold 0 shares (0% stake) in the company pre-issue. Post-issue, each will hold 2,12,150 shares representing 1.177% stake individually, with the aggregate preferential issue resulting in 8,48,600 new shares representing 4.708% of the post-issue share capital.
Additional Information
The corrigendum forms an integral part of the original EGM notice. The pricing certificate obtained from M/s. P S Rao & Associates is available on the company's website. The corrigendum has been sent to shareholders electronically and physically, and is also available on the company website and stock exchange websites.