Shares of Poonawalla Fincorp Ltd surged more than 6% to ₹474.90 on Thursday after the company announced that its board has approved the allotment of 3.31 crore fully paid-up equity shares on a preferential basis to promoter Rising Sun Holdings Private Limited.
The shares have been allotted at a floor price of ₹452.51 per equity share (including premium), aggregating to about ₹1,499.98 crore, according to the company’s exchange filing.
Following this allotment, the company’s issued, subscribed, and paid-up equity share capital has increased from ₹155.84 crore to ₹162.47 crore, raising the total number of shares from 77.92 crore to 81.23 crore.
The company also clarified that these newly allotted equity shares will rank pari-passu with existing equity shares in all respects. Earlier, in-principle approvals for the preferential issue had been received from both NSE and BSE.
