Bosch Limited Granted In-Principle Approval for Preferential Issue of Equity Shares
Bosch Limited has received in-principle approval from stock exchanges concerning the issue of equity shares on a preferential basis to promoters. The approval relates to the issuance of 2,460 equity shares of face value Rs. 10/- each.The decision follows the receipt of letters from both National Stock Exchange of India Limited (NSE) and BSE Limited granting in-principle approval for the matter.
Key details regarding the preferential issue include:
| Detail | Information |
|---|---|
| Company | Bosch Limited |
| Action | Preferential Issue |
| Shares Offered | 2,460 Equity Shares |
| Face Value per Share | Rs. 10/- |
| Minimum Issue Price | Not less than Rs. 35,200/- |
The in-principle approval is subject to various conditions stipulated by the exchanges. These conditions require the company to file a listing application at the earliest from the date of allotment and ensure receipt of all statutory approvals and compliance with guidelines issued by relevant authorities.
Additionally, both NSE and BSE advised Bosch Limited on strengthening internal controls related to trades executed by proposed allottees before allotment. The company was specifically advised to obtain an undertaking from the allottee(s) confirming that they shall not engage in intra-day trading or any sale of the company's scrip until the security allotment date, as required under relevant regulations.
BOSCHLTD Stock Price Movement
Shares of Bosch Limited are rallying at ₹37960 as of 3:09 PM, gaining 1.99% in live trading. The stock trades amidst active volume and remains well short of its day high of ₹38350.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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