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The Board of Directors has approved the allotment of 12,99,000 equity shares at an issue price of Rs. 57.20 each, increasing the company's paid-up equity share capital to Rs. 8,64,06,750. The shares were allocated primarily to promoters, with several public investors participating, totaling 30 investors. This capital raise can enhance the company's financial flexibility and support growth initiatives. The strategic infusion of equity may also improve market confidence and liquidity, signaling a positive outlook for the company's future operations and expansion plans. Investors should monitor the use of these proceeds and the resultant impact on company valuation.
All announcements from Lead Reclaim And Rubber Products Limited