Ashish Kacholia buys 5 lakh shares of SME firm via preferential allotment, stock up 4%
Ashish Kacholia has acquired 497,000 shares of SME firm V-Marc India through a preferential allotment.
This acquisition follows a shareholders meeting on September 12, 2024, where shareholders approved the issuance of equity shares on a preferential basis.
On October 8, 2024, the Board of Directors of V-Marc India convened and approved the allotment of 16,35,000 equity shares, each valued at Rs 10. The issue price for these shares is Rs 286.44, resulting in an aggregate value of approximately Rs 46.83 crore.
The newly issued shares will rank pari-passu with the existing equity shares of the company. V-Marc has already received in-principle approval from the National Stock Exchange of India (NSE) for this preferential share issue on October 1, 2024. An application for formal listing approval for the newly allotted shares will be submitted in due course.
Following the update, V-Marc shares surged 4.2% to Rs 422.7 in Tuesday's trade on the BSE.
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