Desi Farms Allots Over 36 Lakhs CCDs in Preferential Issue to Fund Acquisition
Desi Farms India Limited, formerly known as SER Industries Limited, completed a preferential allotment of Compulsorily Convertible Debentures (CCD) worth Rs. 49,36,26,690/-. The issue, which included both promoter and non-promoter investors, was conducted for consideration other than cash and is tied to the strategic acquisition of SNA Milk and Milk Products Limited and DFSU Farmer Connect Private Limited through a share swap mechanism.The company allotted 36,56,494 units of the 5% CCDs at a fixed price of Rs. 135/- per debenture. This issue included a premium component valued at Rs. 125/- per CCD.
This preferential allotment was conducted in connection with the acquisition of SNA and DFSU on a fully diluted basis, utilizing a share swap structure to finalize the transaction.
Key Details of the Preferential Allotment
The following table summarizes the core financial and structural details of the security issue:| Particulars | Detail |
|---|---|
| Type of Securities Issued | 5% Compulsorily Convertible Debentures (CCD) |
| Issuance Method | Preferential Allotment |
| Total Number of CCDs Allotted | 36,56,494 |
| Issue Price per CCD | Rs. 135/- |
| Premium per CCD | Rs. 125/- |
| Aggregate Value of the Issuance | Rs. 49,36,26,690/- |
Investor Allocation Snapshot
The allotment saw distribution across numerous investors, including individuals and corporate entities, both from the promoter group and non-promoter participants. The allocations were directed to facilitate the acquisition of SNA Milk and Milk Products Limited and DFSU Farmer Connect Private Limited via the share swap consideration.A breakdown of the allotted CCDs across different categories is as follows:
| Category | Key Allotment Details |
|---|---|
| Promoter Group | Dedicated allotment made to specific promoter group members. |
| Non-Promoters | The majority allocation was directed towards various non-promoter investors, including entities such as DRISHYA ADVISORY LLP and FAT PANDA REALTY LLP among others. |
MOTHERSON Stock Price Movement
Shares of Samvardhana Motherson International Limited shed 1.60% in post-market trading today, settling at ₹143.37. The equity saw significant investor activity during the session, with over 42 million shares traded as the stock closed.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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