Aanchal Ispat Board Approves Closure of Equity Issue; 14 Lakh Shares Allocated to QIBs
Aanchal Ispat Ltd announced that its Board of Directors had approved the conclusion of an equity issue, finalizing allocation details and reviewing placement documentation. The meeting concerning these matters was held on June 5, 2026.The company confirmed the closure of the issue period for its equity shares on June 5, 2026. The issue commenced on June 3, 2026. As part of this process, the Board noted the receipt of application forms totaling 13,00,000 full paid-up equity shares and the funds in escrow from eligible Qualified Institutional Buyers (QIBs).
The Board also approved and adopted the Placement Document dated June 5, 2026. A key aspect of the decision involved determining and approving the allocation of 14,00,000 Equity Shares to the qualified institutional buyers. The issue price for these shares was set at Rs 50 per Equity Share. This pricing structure reflects a premium of Rs 40 per Equity Share over the face value of Rs 10 per share.
In addition to approving the allocation, the company approved and finalized the confirmation note that will be sent to eligible qualified institutional buyers. This notification will confirm their allotment of Equity Shares pursuant to the recent issue.
Stock Price Movement
Aanchal Ispat Ltd. settled at ₹55.86 today, edging up a significant 5.00% in the post-market trading session. The shares demonstrated extremely narrow movement, remaining completely locked at this price point throughout the day.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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