GTN Industries Completes Preferential Allotment of Equity Shares and Redeems Preference Stock
GTN INDUSTRIES LIMITED has finalized a significant corporate action, including the preferential allotment of equity shares and the redemption of preference stock. The company confirmed the completion of these matters in its Board meeting held on 31 July 2026.The company allotted 24,59,622 equity shares to non-promoter category investors. These shares were issued at a price of Rs. 24/- per share, aggregating to Rs. 5,90,30,928. The issue and allotted price for the equity shares remained the same, with the pricing including a premium of Rs. 14/- per share.
In addition to the allotment, GTN INDUSTRIES LIMITED redeemed a total of 5,90,000 units of 0.01% Non-Cumulative Redeemable Preference Shares. The aggregate value of these preference shares redeemed was Rs. 5,90,00,000. This redemption was carried out using the proceeds raised from the fresh issue of equity shares on a preferential basis.
Equity Share Allotment Details
The details regarding the outcome of the preferential issuance are as follows:| Metric | Detail |
|---|---|
| Shares Issued | 24,59,622 |
| Issue Price per Share | Rs. 24/- (including a premium of Rs. 14/-) |
| Total Proceeds Raised | Rs. 5,90,30,928 |
The shareholders who received the equity allotment include Rakesh Kalapala and Atluri Raja Babu, with shares allocated totaling 6,00,000 each. Other allottees listed are Kollu Anantha Srinivasa Rao (4,00,000 shares), Manepalli V Gana Suresh (3,00,000 shares), Nandigam Abhishek (2,59,622 shares), Mohit Gurjar (2,00,000 shares), and Ramarao Talluri (1,00,000 shares).
Preference Share Redemption Overview
Details concerning the redemption of preference shares are provided below:| Detail | Value |
|---|---|
| Type of Securities Redeemed | 0.01% Non Cumulative Redeemable Preference Shares |
| Total Quantity Redeemed | 5,90,000 |
| Face Value per Share | Rs. 100/- |
| Aggregate Redemption Value | Rs. 5,90,00,000 |
The security holders who were part of the redemption process included JEL Finance & Investments Ltd, Modesty Finance & Investments Pvt. Ltd, and GTN Engineering (India) Ltd.
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