Goblin India Limited Approves Rs 5.38 Crore Preferential Share Issue
Goblin India Limited's Board has approved a preferential issue of 25,00,000 equity shares at Rs 21.50 per share, raising Rs 5.38 crore from 14 investors. Shrikrupa Decorative Veneer Private Limited and Milan Jasubhai Shah are the largest allocators. The company also plans to increase its authorized share capital from Rs 11.00 crore to Rs 11.20 crore. An EGM is scheduled for September 9, 2022, to seek shareholder approval for these actions.
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Goblin India Limited has announced significant corporate actions aimed at raising capital and restructuring its share capital. The company's Board of Directors has given the green light to a series of strategic moves that will impact its shareholding structure and capital base.
Preferential Share Issue
The Board has approved the issuance of up to 25,00,000 equity shares through a preferential allotment. Here are the key details of the issue:
| Aspect | Details |
|---|---|
| Issue Price | Rs 21.50 per share |
| Total Shares | 25,00,000 |
| Total Capital Raised | Rs 5.38 crore |
| Number of Investors | 14 |
Largest Allocations
Among the 14 investors participating in this preferential issue, two stand out with significant allocations:
Shrikrupa Decorative Veneer Private Limited
- Allocation: 3,88,000 shares
- Post-allotment shareholding: 3.00%
Milan Jasubhai Shah
- Allocation: 2,17,000 shares
Increase in Authorized Share Capital
In addition to the preferential issue, the Board has approved an increase in the company's authorized share capital:
| Aspect | Previous | New |
|---|---|---|
| Authorized Share Capital | Rs 11.00 crore | Rs 11.20 crore |
Next Steps
An Extraordinary General Meeting (EGM) has been scheduled for September 9, 2022. At this meeting, the company will seek member approval for these proposals, including the preferential share issue and the increase in authorized share capital.
This move by Goblin India Limited appears to be aimed at strengthening its capital base and potentially funding future growth initiatives. The preferential allotment, if approved by shareholders, will inject fresh capital into the company and may lead to changes in its shareholding pattern.
Historical Stock Returns for Goblin
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.42% | -3.77% | +0.35% | -40.42% | -64.69% | -48.09% |
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