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Lokesh Machines Ltd ( (IN:LOKESHMACH) ) just unveiled an update.
Lokesh Machines Ltd has approved a preferential allotment of 1.3 million equity shares to non-promoter investors at ₹181.71 per share, raising about ₹23.62 crore and increasing its paid-up equity capital to 21,296,770 shares. The newly issued shares will be listed on BSE and NSE and will be subject to lock-in under SEBI regulations.
The company’s board committee also approved the issue of 2,777,919 convertible warrants to both promoters and non-promoters at a total issue price of ₹181.71 per warrant, with 25% already received as subscription money. Each warrant is convertible into one equity share upon payment of the remaining 75%, paving the way for a substantial future capital infusion of over ₹50 crore and potential equity dilution while strengthening the company’s funding base.
More about Lokesh Machines Ltd
Lokesh Machines Ltd is an Indian engineering company based in Hyderabad, operating multiple manufacturing units in Telangana and Pune. The company is engaged in the machine tools and engineering sector, focusing on production machinery and related solutions for industrial customers in domestic and export markets.
Average Trading Volume: 4,883
Technical Sentiment Signal: Strong Buy
Current Market Cap: 4.77B INR
See more data about LOKESHMACH stock on TipRanks’ Stock Analysis page.