Mcon Rasayan India Limited — Board Meeting, 11-11-2024: Outcome of Board Meeting

The Board of Directors has approved the issue and allotment of 10,19,000 equity shares of face value Rs. 10 each to eligible Qualified Institutional Buyers at an issue price of Rs. 157 per share, totaling Rs. 15.99 Crores. This qualified institutions placement opened on November 7 and closed on November 11, 2024. The issuance price is lower than the floor price of Rs. 165.18 per share, reflecting a strategic move to attract institutional investment while potentially addressing liquidity needs.