Nature and Purpose of the Meeting
The Fund Raise Committee of the Board of Directors met to approve the closure and final allocation of a Qualified Institutions Placement (QIP) of equity shares. The meeting was specifically convened to conclude the fund-raising process initiated under the SEBI ICDR Regulations and the Companies Act, 2013.
Details of Resolutions Passed
The Committee passed the following resolutions:
- Approved and declared the closure of the QIP on July 20, 2026, upon receipt of application forms and funds in the escrow account from eligible qualified institutional buyers (QIBs).
- Determined and approved the allocation of 1,08,15,307 Equity Shares of face value INR 1 each to eligible QIBs.
- Set the issue price at INR 1,202 per Equity Share, which includes a premium of INR 1,201 per share.
- This issue price is higher than the floor price of INR 1,169.70 per Equity Share.
- The pricing was determined as per the formula prescribed under Regulation 176(1) of the SEBI ICDR Regulations.
- Approved and adopted the placement document dated July 20, 2026.
- Approved the final confirmation of allocation note to be sent to allottees.
Financial Impact
The total capital raised through this QIP is INR 1,300.00 crore (1,08,15,307 shares × INR 1,202 per share).
Timing of the Meeting
The meeting of the Fund Raise Committee commenced at 10:15 p.m. and concluded at 10:42 p.m. on July 20, 2026.
Compliance References
The issuance was conducted under:
- Chapter VI of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (SEBI ICDR Regulations)
- Sections 42 and 62(1)(c) of the Companies Act, 2013
- This disclosure is made in compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI LODR)
Additional Material Disclosure
The placement document has been made available on the company's website at: https://www.atherenergy.com/investor-relations/offer-documents#qualified-institutions-placement