Integrated Personnel Services Limited Revises Issue Price to Rs. 96 Per Share for Preferential Allotment
Integrated Personnel Services Limited (Formerly known as Integrated Personnel Services Private Limited) has announced a revision to the issue price for a proposed preferential allotment of equity shares. This update follows the initial approval of the preferential issue to both non-promoter public and the promoters.The company had previously approved the preferential allotment, with the Board and Members initially setting the issue price at Rs. 72 per equity share. However, following a recent valuation conducted in line with applicable requirements, the updated issue price has been revised to Rs. 96 per equity share.
The total issue size, as previously approved by the Board and Members, remains unchanged at Rs. 15,42,24,000/-. Nevertheless, the revision in the issue price necessitates a corresponding change in the number of equity shares to be allotted to the proposed allottees.
Revised Share Allocations
The revised issue structure is detailed across different categories of allottees:Issue of equity shares on a preferential basis to the promoters for consideration other than cash
| Name of the Proposed Allottee | Category | Pre-Pref Holding (No. of Equity Shares) | % of Holding | Earlier Number of Shares (At Rs. 72) | Maximum Number of Shares to be (At Rs. 96) | Post-Pref Holding* | Post-Pref Holding* |
|---|---|---|---|---|---|---|---|
| Tarang Raghuvir Goyal | Promoter | 38,98,932 | 45.30 | 10,13,333 | 7,60,000 | 46,58,932 | 45.62 |
| Sandeep Kaur Goyal | Promoter | 17,77,310 | 20.65 | 57,667 | 43,250 | 18,20,560 | 17.83 |
Issue of equity shares on a preferential basis to non-promoter public for consideration in cash
| Name of the Proposed Allottee | Category | Pre-Pref Holding (No. of Equity Shares) | % of Holding | Earlier Number of Shares (At Rs. 72) | Maximum Number of Shares to be (At Rs. 96) | Post-Pref Holding* | Post-Pref Holding* |
|---|---|---|---|---|---|---|---|
| Jitendra Rasiklal Sanghavi | Non- Promoter Public | - | - | 4,00,000 | 3,00,000 | 3,00,000 | 2.94 |
| Roopal Hitesh Kawa | Non- Promoter Public | 24,000 | 0.28 | 2,27,000 | 1,70,250 | 1,94,250 | 1.90 |
Additionally, the company reported share allotment details for other non-promoter public allottees:
| Proposed Allottee | Category | Earlier Number of Shares (At Rs. 72) | Revised Number of Shares (At Rs. 96) | Post-Pref Holding* | Post-Pref Holding* |
|---|---|---|---|---|---|
| Bijal Kaushik Gandhi | Non- Promoter Public | 90,000 | 67,500 | 67,500 | 0.66 |
| Priti Nimesh Singh | Non- Promoter Public | 90,000 | 67,500 | 72,000 | 0.7 |
| Varshit Janak Shah | Non- Promoter Public | 75,000 | 56,250 | 1,48,250 | 1.45 |
| Dharmista Bhavik Sanghvi | Non- Promoter Public | 53,000 | 39,750 | 39,750 | 0.39 |
| Archana V Maheshwari | Non- Promoter Public | 60,000 | 45,000 | 45,000 | 0.44 |
| Kaushik Hasmukhlal Gandhi | Non- Promoter Public | 23,000 | 17,250 | 1,07,250 | 1.05 |
| Nimesh Sahadeo Singh | Non- Promoter Public | 23,000 | 17,250 | 1,10,250 | 1.08 |
| Mukesh Saraswat | Non- Promoter Public | 15,000 | 11,250 | 11,250 | 0.11 |
| Sarweswara Reddy Sanivarapu | Non- Promoter Public | 15,000 | 11,250 | 11,250 | 0.11 |
Overall Shareholding Pattern
The shareholding pattern of the company shows the following transition from the pre-issue to the post-issue stage:| Sl. No. | Category | Pre-issue shareholding (No. of Equity Shares) | Pre-issue shareholding (% Of Shareholding) | Post- issue shareholding * (No. of Equity Shares) | Post- issue shareholding * (% Of Shareholding) |
|---|---|---|---|---|---|
| A | Promoters and Promoter Group Holding | 57,76,342 | 67.12 | 65,79,592 | 64.42 |
| 1 | Indian Individuals/Hindu undivided Family | 57,76,342 | 67.12 | 65,79,592 | 64.42 |
| B | Non-Promoter Holding | 28,30,168 | 32.88 | 36,33,418 | 35.58 |
| 2a | Individuals (share Capital up to Rs. 2 lakhs) | 6,04,000 | 7.02 | 6,04,000 | 5.91 |
| 2b | Individuals (share Capital in excess of Rs. 2 lakhs) | 13,50,500 | 15.69 | 21,53,750 | 21.09 |
| 2c | Non-Resident Indians (NRIs) | 2,000 | 0.02 | 2,000 | 0.02 |
| 2d | Bodies Corporate | 7,34,500 | 8.53 | 7,34,500 | 7.19 |
| 2e | Any Other (specify) | 1,39,168 | 1.62 | 1,39,168 | 1.36 |
| Grand Total | A+B+C | 86,06,510 | 100.00 | 1,02,13,010 | 100.00 |
The company also confirmed a share swap transaction, where the swap ratio is set at 1:95. For every one Equity Share of face value of Rs. 10/- each held by the Shareholder(s) in Informatic Connecting Tech Private Limited 'Selling Company', 95 Equity Shares of Integrated Personnel Services Limited, aggregating up to 8,03,250 equity shares, will be allotted.
The Managing Director, Tarang Raghuvir Goyal, confirmed the revised issue price and the details of the allotment.
IPSL Stock Price Movement
Today, shares of Integrated Personnel Services Limited slipped by 0.42% to settle at ₹226, dropping ₹0.95 from its previous close. Trading volume for the stock settled at 500 shares.Source:
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