Arvind SmartSpaces allots over 68.54 lakh equity shares; Stock ends lower

Post allotment, the paid-up Equity Share Capital of the company is increased to ~Rs42.41cr comprising of 4,24,08,250 equity share of Rs10/- each.

Oct 14, 2021 03:10 IST India Infoline News Service

Arvind SmartSpaces
Arvind SmartSpaces Limited has allotted 68,54,700 equity shares of the face value of Rs10/- to the Investor and Promoter Group Entities.

The Board of Directors of Arvind SmartSpaces Limited has approved today, the allotment of over 40.32 lakhs equity shares of the face value of Rs10/- each for cash at a price of Rs124.00 per equity share aggregating to ~Rs50cr to HDFC Capital Affordable Real Estate Fund - 1, a Category II Alternative Investment Fund (Investor) on Preferential basis.

The company approved 28,22,500 equity shares of the face value of Rs10/- each for cash at a price of Rs124.00/- per equity share, aggregating to ~Rs35cr to Aura Business Ventures LLP (16,00,000) and Aura Merchandise Private Limited (12,22,500) on a preferential basis.

Post allotment of above equity shares; (a) the paid up Equity Share Capital of the company is increased to Rs42.41cr comprising of 4,24,08,250 equity share of Rs10/- each; (b) shareholding of Promoter and Promoter Group has decreased to 54.34% of expanded capital of the company.

Arvind Smartspaces Limited trade ended at Rs190.00 per piece down Rs4.90 or 2.51% on the BSE.

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