Tega Industries has approved a preferential share issue to AP Jupiter Holdings II, Ltd., raising approximately ₹95.40 crore. The company will issue 4,78,435 equity shares at an issue price of ₹1,994 per share, including a premium of ₹1,984. This move requires shareholder and regulatory approval and is part of the company’s capital-raising strategy.
Board Approves Capital Infusion via Preferential Issue
Tega Industries’ Board of Directors has approved a significant corporate action involving the creation, issue, and offer of 4,78,435 equity shares. This issuance will be conducted on a private placement basis to AP Jupiter Holdings II, Ltd., as part of a preferential issue. The total amount to be raised from this transaction is approximately ₹95.40 crore.
Key Details of the Preferential Issue
The equity shares will be issued at a price of ₹1,994 per share, which includes a substantial premium of ₹1,984 per share. The face value of each equity share is ₹10. This preferential issue is undertaken for cash consideration and is subject to necessary approvals from regulatory authorities and the company’s shareholders.
Shareholder and Regulatory Approvals Pending
To facilitate this preferential issue, Tega Industries will seek the approval of its shareholders through a Postal Ballot process, utilizing a remote e-voting mechanism. This process will be conducted in accordance with the provisions of the Companies Act, 2013, and other applicable laws and regulations. The company has already received an Expression of Interest (EOI) Letter from the proposed allottee, AP Jupiter Holdings II, Ltd.
Financial Snapshot of the Transaction
The total value of the preferential issue amounts to ₹95,39,99,390, which is approximately ₹95.40 Crores. This issuance is in compliance with Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and other relevant statutory guidelines. The company will also host this disclosure on its website, www.tegaindustries.com.
Source: BSE
