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Advait Infratech informs about outcome of board meeting

04 Jul 2024 Evaluate
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Listing Regulations); Advait Infratech has informed that the Board of Directors (Board) of the Company at its Meeting held on Thursday, 4 July, 2024 at 11:00 AM, has considered and approved the allotment of 5,92,940 equity shares of face value Rupees 10.00 each, for cash, at a price of Rs 1388 per equity share (including a premium of Rs 1378 per equity share), aggregating to Rs 82,30,00,720 (Rupees Eighty-Two Crore Thirty Lakhs Seven Hundred Twenty Only) by way of private placement on a preferential issue basis to the non-promoter allottees of the Company. The allotment has been undertaken in accordance with the provisions of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and other applicable rules / regulations / guidelines, if any, prescribed by any other regulatory or statutory authorities. Consequent to above mentioned allotment, the issued, subscribed and paid-up equity share capital of the Company stands increased to Rs 10,80,05,930 divided into 1,08,00,593 equity shares of face value Rs. 10 each. The equity shares allotted on the preferential allotment basis shall rank paripassu with the existing equity shares of the Company in all respects and will be listed on BSE. The disclosure as required under Regulation 30 of the Listing Regulations read with SEBI Circular on Continuous Disclosure (SEBI Circular SEBI/HO/CFD/CFDPoD1/P/CIR/2023/123 dated July 13, 2023), regarding the issue of equity shares on a preferential basis is enclosed as Annexure-I. The meeting of the Board of Directors of the Company commenced at 11:00 am and concluded at 11:30 am.

The above information is a part of company’s filings submitted to BSE.

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