Summary of Key Information:
Nature of Filing / Announcement: Outcome of Board Meeting - Preferential Allotment and Agreement Closure
Key Financial Highlights:
Fundraising Details:
- Preferential allotment of 34,68,007 Equity Shares of face value ₹10/- each
- Issue price: ₹115.34 per share (including premium of ₹105.34 per share)
- Total amount raised: ₹39,99,99,927.38 (Thirty-Nine Crore Ninety-Nine Lakh Ninety-Nine Thousand Nine Hundred Twenty-Seven and Thirty-Eight Paise)
- Allottee: Kirloskar Power Equipments Limited (KPEL), a Promoter Group entity
Ownership Changes:
Pre-allotment holding of KPEL: 11,46,315 shares (1.73%)
Post-allotment holding of KPEL: 46,14,322 shares (6.60%)
Increase in holding: 34,68,007 shares (4.87% points)
Corporate Actions:
Preferential Issue:
- Type: Equity Shares
- Face value: ₹10 per share
- Issue price: ₹115.34 per share
- Premium: ₹105.34 per share
- Total issue size: ₹39,99,99,927.38
- Number of allottees: 1 (Kirloskar Power Equipments Limited)
- Shares rank pari-passu with existing equity shares
Agreement Closure:
- Master Restructuring Agreement (MRA) dated June 30, 2015 closed
- Supplementary agreements with consortium banks also closed
- Lead Lender: Bank of India
- Other party: State Bank of India
- Reason for closure: Successful exit from current arrangement
- Impact: No negative impact on the Company
Other Significant Information:
- The preferential issue was conducted in accordance with Chapter V of SEBI ICDR Regulations
- The restructuring agreement closure represents completion of financial restructuring process