Image Source: Mahickra
Mahickra Chemicals Limited has approved raising funds through a preferential issue of 28.53 lakh equity shares at ₹166 per share, aggregating to ₹47.36 crore. The issuance is subject to shareholder and regulatory approvals, with an Extraordinary General Meeting scheduled for February 23, 2026.
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Mahickra Chemicals Limited, in its Board Meeting held on January 23, 2026, has taken a significant step toward strengthening its capital base. The company has approved the issuance of equity shares on a preferential basis, aligning with SEBI ICDR Regulations.
Key Highlights
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The Board has sanctioned issuance of up to 28,53,000 equity shares of face value ₹10 each at an issue price of ₹166 per share, including a premium of ₹156 per share.
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The total fundraise amounts to ₹47,35,98,000 through preferential allotment on a private placement basis.
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The issue price complies with Chapter V of SEBI ICDR Regulations, ensuring adherence to prescribed norms and floor price requirements.
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The preferential issue remains subject to shareholder approval and receipt of statutory, regulatory, stock exchange, and governmental clearances.
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An Extraordinary General Meeting (EGM) is scheduled for February 23, 2026, to seek member approval for the proposed issuance and related matters.
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The company will notify exchanges and members with detailed EGM information in due course.
Sources: Company filing with BSE, SEBI ICDR Regulations 2018
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