Event Date: N/A
SPRAY ENGINEERING DEVICES LIMITED has approved the allotment of 25,09,642 fully paid-up equity shares of Rs. 10/- each at a premium of Rs. 277/- each on a preferential allotment basis (private placement). This resolution was passed during the 117th meeting of the Board of Directors held on May 16th, 2024. The approval is pursuant to Sections 42 and 62 of the Companies Act, 2013, read with relevant rules.
The board accorded the allotment of 25,09,642 equity shares against the share application money received from the allottees. The total investment amount from this allotment is Rs. 720.27 million. The meeting also approved the issuance of equity shares on a preference basis with an issue price of Rs. 287/- each, including the premium of Rs. 277/- and a face value of Rs. 10/-, for the same aggregate value of Rs. 720.27 Million. The explanatory statement indicated this capital raise is intended to accelerate the current growth rate, maintain capital adequacy for a potential Initial Public Offering (IPO), and meet company expenses. The Board of Directors approved the fund raising on April 12, 2024, and the shareholders approved it on May 6, 2024.
Details of Allotment: The following table details the investors, nature of investor (Individual/Foreign Fund), number of equity shares allotted, and the investment amount in INR Million. The face value of each share is INR 10, and the premium per share is INR 277.
| Sr. No. | Name of the Investor | Nature of Investor | No. of Equity Shares | Investment Amount (INR in Million) | | ------- | ----------------------------------- | ------------------ | -------------------- | ---------------------------------- | | 1 | Mukul Mahavir Agrawal | Individual | 8,01,693 | 230.086 | | 2 | Vijay Ramvallabh Khetan | Individual | 34,856 | 10.004 | | 3 | Reina R. Jaisinghani | Individual | 1,74,281 | 50.019 | | 4 | Ajay T. Jaisinghani | Individual | 87,140 | 25.009 | | 5 | Girdhari Thakurdas Jaisinghani | Individual | 34,856 | 10.004 | | 6 | Nikhil Ramesh Jaisinghani | Individual | 34,856 | 10.004 | | 7 | Monisha Vijay Khanchandani | Individual | 17,428 | 5.002 | | 8 | Resonance Opportunities Fund | Foreign Fund | 3,48,561 | 100.037 | | 9 | Minerva Ventures Fund | Foreign Fund | 2,78,849 | 80.030 | | 10 | Nova Global Opportunities Fund PCC-Touchstone | Foreign Fund | 1,39,425 | 40.015 | | 11 | Anil Kumar Goel | Individual | 1,39,425 | 40.015 | | 12 | Moheet Vinodkumar Agrawal | Individual | 1,21,996 | 35.013 | | 13 | Bikramjit Singh Kandhari | Individual | 69,712 | 20.007 | | 14 | ICP Investments (Mauritius) Limited| Foreign Fund | 34,856 | 10.004 | | 15 | Rajesh Hansraj Gupta | Individual | 17,428 | 5.002 | | 16 | Prabhat Investment Services LLP | LLP | 34,856 | 10.004 | | 17 | Ritu Gupta | Individual | 17,428 | 5.002 | | 18 | Anil Kumar Agarwal | Individual | 17,428 | 5.002 | | 19 | Priya Goyal | Individual | 17,428 | 5.002 | | 20 | Amita Poddar | Individual | 17,428 | 5.002 | | 21 | Zulia Zafar | Individual | 17,428 | 5.002 | | 22 | Rajesh Garg | Individual | 34,856 | 10.004 | | 23 | Twishaa Gupta | Individual | 8,714 | 2.501 | | 24 | Tanya Gupta | Individual | 8,714 | 2.501 | | | Total | | 25,09,642 | 720.27 |
Further Resolutions:
Mr. Vivek Verma (Managing Director), Mr. Prateek Verma (Wholetime Director), and Mr. Rinkal Goyal (Company Secretary & Compliance Officer) are jointly and severally authorized to execute necessary documents and comply with regulatory requirements.
The company will effect the transfer and delivery of the 25,09,642 Equity Shares to the beneficiary accounts of the investors.
The names of the investors will be entered into the register of members of the Company.
A copy of the resolutions, certified by a director or the company secretary, will be forwarded to concerned authorities for necessary action.
Explanatory Statement Disclosures:
Provisional Shareholding Pattern:
| Category | Pre-Issue | Post-Issue | | ---------------------- | --------------- | --------------- | | Promoters' holding | 78.48% | 70.64% | | Non-promoters holding | 21.52% | 29.36% | | Total | 100% | 100% |
Specifically, promoters held 1,77,27,005 shares pre- and post-issue, while non-promoters increased their holdings from 48,59,776 to 73,69,418.
Form PAS-5 details: The company intends to raise Rs. 720.27 Millions by issuing of 25,09,642 equity shares of Rs. 10/- each at a premium of Rs. 277/- each to investors under private placement. The board resolution approving this was passed on 12.04.2024, and the shareholders resolution was passed on 06.05.2024.
Access essential information and documents to make informed investment decisions
Stay updated with upcoming events, conferences, and announcements
Access quarterly and half-yearly financial statements and reports
Download comprehensive annual reports and financial summaries
Access investor presentations, corporate briefings, and slideshows
Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.
Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.
You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.
The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.
Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.
To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.
Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.
The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.
Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.
It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.
Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.
