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Remi Edelstahl Tubulars Limited Approves Preferential Equity Allotment

1 report, 1 independent Updated Sep 23

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What happened

Some supportReported by 1 outlet

The board of directors of Remi Edelstahl Tubulars Limited approved the preferential allotment of 8,33,331 fully paid-up equity shares at an issue price of ₹180 per share, which includes a premium of ₹170 per share. The total consideration for the allotment is ₹14,99,99,580, payable in cash. The shares are subject to lock-in requirements under SEBI regulations.

From equitybulls.com

Why it matters

Some supportBrind's analysis of the reports

The allotment covers five investors, including Skyrise Mercantile Limited and Hanuman Freight & Carriers Private Limited from the Promoter Group, and Jay Bharat Mehta, J B Mody Enterprises LLP, and SNS Ventures LLP from the Non-Promoter category. The transaction provides capital to the company.

From equitybulls.com

Who's involved

board of directorsApproved the preferential allotment of equity shares

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The entities involved

board of directors
group of people who jointly supervise the activities of an organization
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Coverage

Newest first; wire copies grouped

Sep 23equitybulls.com