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An update from Tembo Global Industries Ltd. ( (IN:TEMBO) ) is now available.
Tembo Global Industries Limited, a company listed on the National Stock Exchange of India, announced the outcome of a circular resolution passed by its Board of Directors. The board approved the allotment of 233,145 equity shares at a price of Rs. 492 each, aggregating to Rs. 11.47 crore, on a preferential basis to non-promoter entities. These shares will rank equally with existing equity shares and will be locked-in for a specified period as per regulatory requirements. This move is part of the company’s strategic financial decisions aimed at strengthening its capital structure.
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