GTN Industries Ltd Board Approves Preferential Allotment of Up to 24 Lakh Shares at Rs 24
GTN Industries Limited announced that its Board of Directors has approved a major capital raising initiative, providing an option to create and offer up to 24,59,622 equity shares on a preferential basis. The allotment is targeted at members of the non-promoter group.The Board meeting, held on June 5, 2026, considered and approved the issuance plan for the equity shares. Each share, which has a face value of Rs 10, will be offered by the company at a price of Rs 24 per share. This issue includes a premium of Rs 14 per share.
Following this approval, an Extra Ordinary General Meeting (EGM) of the company members is scheduled to take place on July 6, 2026, at the registered office of GTN Industries Limited. The EGM is intended for shareholders to approve the proposed share allotment.
In preparation for the upcoming meeting, M/s DVM & Associates, LLP has been appointed as the Srutinizer to oversee the voting process during the Extra-Ordinary General Meeting to ensure a fair and transparent process.
The company has already identified seven investors who are slated to receive equity shares through this preferential offer. The total number of shares allocated across these investors matches the maximum issue size approved by the Board.
Key details regarding the allotment and participating investors include:
| S No | Name of the Investors | Type of Security | Number of Shares |
|---|---|---|---|
| 1 | Rakesh Kalapala | Equity Shares | 6,00,000 |
| 2 | Atluri Raja Babu | Equity Shares | 6,00,000 |
| 3 | Kollu Anantha Srinivasa Rao | Equity Shares | 4,00,000 |
| 4 | Manepalli V Gana Suresh | Equity Shares | 3,00,000 |
| 5 | Nandigam Abhishek | Equity Shares | 259,622 |
| 6 | Mohit Gurjar | Equity Shares | 2,00,000 |
| 7 | Ramarao Talluri | Equity Shares | 1,00,000 |
| Total | Total | Equity Shares | 24,59,622 |
The offer details specified that the issue price is Rs 24 per share (including a premium of Rs 14 per share).
Stock Price Movement
GTN Industries Ltd. shares settled on Friday at ₹24.50, slipping 0.41% in post-market trading. During the session, the stock traded through an intraday range, hitting a low of ₹23.90 but managing to reach a high of ₹24.60.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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