Sagar Cements allots 1,32,07,548 shares to Premji Invest on preferential basis

Sagar Cements Limited, announced that its Board of Directors in its meeting held today, allotted 1,32,07,548 equity shares of face value of Rs. 2 each at an issue price of Rs.265/- per share, to PI Opportunities Fund - I Scheme II ("PIOF"), an affiliate of Premji Invest, a leading Private Equity fund in India on a preferential basis in accordance with the approval accorded by the shareholders at their Extra-Ordinary General Meeting held on April 23, 2022.

Pursuant to the above allotment, the paid-up equity share capital of the Company stands increased from Rs.23,50,00,000/- to Rs.26,14,15,096/-.

The investment proceeds will be largely utilized towards meeting the organic and inorganic expansion plans of the Company along with funding its general corporate expenses.

Source : Equity Bulls

Keywords

SagarCements PreferentialAllotment PremjiInvest