Arihant Capital Markets Limited, a financial services company, has successfully completed a preferential allotment of equity shares, raising ₹4.35 crore from a non-promoter investor. The company's move is part of a larger capital raising initiative approved by its shareholders.

Key Details of the Allotment

• Allottee: Premadevi Taparia (Non-promoter investor)
• Number of Shares: 5,00,000 equity shares
• Issue Price: ₹87.00 per share (including a premium of ₹86.00)
• Total Amount Raised: ₹4.35 crore

Impact on Share Capital

The preferential allotment has resulted in an increase in Arihant Capital Markets' paid-up equity share capital:

Regulatory Approvals and Compliance

The allotment was executed following a series of regulatory approvals and corporate actions:

1. Special resolution passed at an extraordinary general meeting
2. In-principle approval received from BSE and NSE
3. Final approval by the Preferential Allotment Committee

Investor Stake and Lock-in Period

Post-allotment, Premadevi Taparia now holds a 0.48% stake in Arihant Capital Markets. The newly allotted shares will be subject to a lock-in period as per SEBI regulations, ensuring alignment with long-term company interests.

Part of Larger Issuance

This allotment of 5 lakh shares is part of a larger approved issuance of 1.05 crore equity shares. The company may continue to raise capital through further allotments under this approval.

Market Implications

The successful completion of this preferential allotment demonstrates investor confidence in Arihant Capital Markets. The additional capital is expected to strengthen the company's financial position, potentially supporting its growth initiatives in the competitive financial services sector.

Arihant Capital Markets Limited will be applying for listing and trading approvals for the newly allotted shares within the statutory timelines. Investors and market participants will be keen to observe how the company utilizes these funds and its impact on future financial performance.

Arihant Capital Markets Limited has received a significant boost to its capital raising plans. The company has secured in-principle approval from both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) for a substantial preferential share issue to non-promoter investors.

Preferential Issue Details

The company plans to issue 1.05 crore equity shares at a price of Rs 87.00 per share, potentially raising Rs 91.35 crore. These shares will have a face value of Re 1.00 each. The approval for this preferential allotment was granted on September 8, marking a crucial step forward in Arihant Capital's financial strategy.

Regulatory Compliance and Conditions

The stock exchanges have set forth several conditions that Arihant Capital must adhere to:

1. Filing of listing applications promptly after the allotment of shares
2. Obtaining necessary statutory approvals from regulatory bodies including SEBI, RBI, and MCA
3. Ensuring compliance with all applicable regulations and guidelines

Enhanced Internal Controls

The NSE has specifically advised Arihant Capital to strengthen its internal controls. This measure is aimed at monitoring trades executed by the proposed allottees in the company's scrip. The objective is to prevent any non-compliance with the provisions of Chapter V of SEBI (ICDR) Regulations.

Undertakings from Allottees

As part of the compliance measures, Arihant Capital has been advised to obtain undertakings from the allottees. These undertakings should confirm that the allottees will not engage in:

• Intra-day trading in the company's scrip
• Any sale of the company's shares until the allotment date

Exchange Rights

Both BSE and NSE have reserved the right to withdraw their approval if the information submitted by Arihant Capital is found to be incomplete, incorrect, misleading, or in contravention of any exchange rules, regulations, or statutory requirements.

This preferential issue represents a significant move for Arihant Capital Markets Limited, potentially strengthening its financial position and providing capital for future growth initiatives.