Scrip Code / Symbol: BSE: 544263 (KRN)
Nature and Purpose of the Meeting
The Fund-Raising Committee (FRC) met to conclude the company's Qualified Institutions Placement (QIP) of equity shares. The purpose was to approve the closure of the issue, finalize allotment, and adopt related documents after receiving applications and funds from Qualified Institutional Buyers (QIBs).
Details of Resolutions Passed
The committee passed the following resolutions:
- Approved the closure of the QIP on June 1, 2026.
- Allotted 33,01,886 Equity Shares at an Issue Price of ₹1,060.00 per share (Face Value: ₹10, Premium: ₹1,050).
- This price includes a discount of 4.85% to the calculated floor price of ₹1,114.05 per share.
- Approved the Placement Document dated June 1, 2026.
- Finalized the Confirmation of Allocation Note to be sent to allottees.
Financial Impact
The total capital raised through this QIP is ₹350 Crores (33,01,886 shares × ₹1,060).
Timing of the Meeting
The meeting commenced at 09:40 p.m. and concluded at 10:00 p.m. on June 1, 2026.
Compliance References
The issuance was conducted under:
- Chapter VI of the SEBI ICDR Regulations, 2018 (Specifically Regulation 176(1) for pricing).
- Sections 42 and 62(1)(c) of the Companies Act, 2013.
- This disclosure is made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Any Other Material Disclosure
The document does not disclose the specific use of proceeds from the fundraise or the identities of the allottees.