Divine Power Energy Limited — Others, 02-12-2024: Shareholders meeting

Divine Power Energy Limited has announced a board meeting to seek approval for the issuance of 35,01,000 equity shares at an issue price of ₹122.50 each, totaling ₹42.88 crore. The shares will be allotted on a preferential basis to non-promoter investors, and the remote e-voting for this resolution opens on December 03, 2024, and closes on January 01, 2025. This fundraising effort is aimed at strengthening the company's capital base and facilitating its investment in Vimlesh Industries, enhancing growth potential. Investors may view this as a positive outlook for future expansion, provided it is executed smoothly, with no expected change in control post-issue.