Servotech Power Systems changes preferential issue price to ₹83.40 per share

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Servotech Power Systems preferential issue 2023: The board of directors of Servotech Power Systems Ltd has revised issue price from ₹82 per equity share to ₹83.40m per share. The company board revised preferential issue price in its board meeting held on Tuesday.

Due to change in Servotech Power Systems preferential issue price, the issue size would change from ₹73.80 crore to ₹75.06 crore. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — November 29 Informing Indian stock market exchanges about revision in preferential issue price, Servotech Power Systems Ltd said, "In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and in continuation of the Board meeting dated 11th November, 2023 wherein preferential issue of 90,00,000 warrants in terms of SEBI (ICDR) Regulations, 2018, was approved subject to all necessary approvals, and pursuant to the power conferred to the board, in relation to the preferential issue, to take necessary decision to settle any question, difficulty or doubt that may arise subsequently in this regard, the Board of Directors of the Company in the meeting duly held on 28th November 2023 took the following decisions: 1] Revision/Change in Relevant date: Since, the conclusion date of Postal Ballot seeking members approval for the preferential issue is scheduled on 17th December 2023, the relevant date, in terms of Regulation 161 of SEBI (ICDR) Regulations, 2018 whichstates that “relevant date shall be the date thirty days prior to the date on which the meeting of shareholders is held to consider the proposed preferential issue", should be 17th November 2023." Also Read: Day trading guide for stock market today: Six