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An update from Team India Guaranty ( (IN:TEAMGTY) ) is now available.
Team India Guaranty Limited has deferred a planned preferential allotment of 22,48,270 equity shares to non-promoters that had been approved by shareholders and received in-principle clearances from both BSE and NSE. The board determined that only 62.14% of the required consideration in the form of shares was received from the proposed allottee, preventing completion of the transaction at this time.
As a result, the proposed allotment of shares to the shareholders of 4A Financial Technologies Private Limited, as well as the associated acquisition of that company, has been postponed and may be revisited later. With the deferral, there is no change to Team India Guaranty’s paid-up equity share capital, leaving its capital structure and existing shareholder positions unaffected for now.
More about Team India Guaranty
Team India Guaranty Limited, formerly known as Times Guaranty Limited, operates in the financial services sector and is listed on both BSE and NSE in India. The company focuses on capital market activities and corporate finance transactions, including equity issuance and strategic investments aligned with its growth and diversification plans.
Average Trading Volume: 756
Technical Sentiment Signal: Buy
Current Market Cap: 2.37B INR
Find detailed analytics on TEAMGTY stock on TipRanks’ Stock Analysis page.