Sky Gold and Diamonds Limited announced the completion of a preferential issue of 60,95,074 equity shares of face value ₹10 each. The issue was priced at ₹369 per share, raising approximately ₹154.87 crore (before expenses) on a consolidated basis. The funds raised are intended for general corporate purposes and to support the company’s growth initiatives.
Preferential Issue Completed
Sky Gold and Diamonds Limited has successfully completed a preferential issue of equity shares, raising approximately ₹154.87 crore. The company allotted 60,95,074 equity shares of ₹10 each at a premium of ₹359 per share. This move is part of the company’s strategy to infuse capital for its overall corporate needs and growth objectives.
Use of Funds
The proceeds from this preferential issue are earmarked for general corporate purposes. This capital infusion is expected to bolster the company’s financial position and support its strategic expansion plans, aligning with its vision for continued growth and development in the jewellery sector.
Transaction Details
The preferential issue was conducted on a private placement basis and was approved by the Board of Directors. This significant capital raise reflects the company’s proactive approach to funding its operations and strategic initiatives, aiming to enhance shareholder value.
Source: BSE
