Steel Exchange of India issues allotment of 1 crore equity shares

by Psu Connect
Date: 29-03-24

Steel Exchange of India has approved the allotment of 1,10,00,000 Equity Shares, by way of a preferential allotment to the non-promoter group.

Steel Exchange of India issues allotment of 1 crore equity shares

The company board has proposed to issue equity shares to M/s. Money Seeds represented by non-promoter groups by way of preferential allotment.

According to the exchange filing made by the company, it is stated that under circular Resolution dated 28th March 2024, the company has approved the Allotment of 1,10,00,000 Equity Shares of the Company having a face value of Re.1/- each, at an issue price of Re.16.60/- per Equity Shares (including a premium of Re.15.60 per Equity Shares) for an aggregate consideration not exceeding Re. 18,26,00,000/- (Rupees Eighteen Crores and Twenty-Six Lakhs Only), by way of a preferential allotment to the following allottees given below

The Name of the Proposed Allottee and No. of Equity Shares proposed to issue and allot is 1 M/s. Money Seeds Represented by Mr. Shivam Arora, Mr. Animesh Garg & Mr. Puneet Arora (Partners) Non-Promoter group, 1,10,00,000.