Skipper Ltd Seeks Rs 433 Crore in Preferential Allotment to Non-Promoters; EGM Scheduled for June 26, 2026
Skipper Limited has initiated a plan to raise capital through a preferential allotment of equity shares, targeting an aggregate amount of up to Rs 4,33,49,98,940/-. The company proposes to issue up to 92,23,402 Equity Shares at an Issue Price of Rs 470/- per share. An Extra Ordinary General Meeting (EGM) has been scheduled for June 26, 2026, to obtain shareholder approval for the transaction.The proposed allotment is designated exclusively to persons and entities categorized as Non-Promoters under the ICDR Regulations. The maximum amount targeted in this private placement offering totals Rs 433,49,98,940/- (Rupees Four Hundred Thirty Three Crores Forty Nine Lakhs Ninety Eight Thousand Nine Hundred and Forty Only).
Key Transaction Details of Preferential Allotment
The company has structured the preferential issue with specific terms. The maximum number of Equity Shares set for allotment is 92,23,402, each having a face value of Re 1/-. The Issue Price includes a premium of Rs 469/- per share, making the total offer price Rs 470/-.The pricing was determined based on trading volumes recorded during the preceding 90 and 10 days prior to the Relevant Date, which was set as May 27, 2026. The minimum price calculated for issuance stood at Rs 469.81 (Rupees Four Hundred Sixty Nine and Paisa Eighty One Only), with the proposed issue price of Rs 470/- remaining above this minimum.
The Preferred Allotment is set to be completed within a period of 15 days from the date the Special Resolution is passed by Members, or from the date of receiving any necessary regulatory approval, whichever is later.
Allocation Breakdown among Proposed Allottees
Five entities have been identified as proposed allottees for the Equity Shares, falling under various Non-Promoter categories including Alternate Investor Fund (AIF), Foreign Portfolio Investor (FPI), and Mutual Funds (MF).The distribution of shares and capital across the proposed allottees is detailed below:
| Name of the Proposed Allottee | Category | Maximum No. of Equity Shares to be Allotted | Maximum Amount to be Raised (In Rs.) |
|---|---|---|---|
| SmallCap World Fund Inc | Non-Promoter/FPI | 59,02,840 | 2,77,43,34,800 |
| Bandhan Small Cap Fund | Non-Promoter/MF | 5,00,000 | 23,50,00,000 |
| Cohesion MK Best Ideas Sub-Trust | Non-Promoter/FPI | 15,95,744 | 74,99,99,680 |
| American Funds Insurance Series Global Small Capitalization Fund | Non-Promoter/FPI | 1,60,989 | 7,56,64,830 |
| Emerge Private Opportunities Trust I | Non-Promoter/AIF | 10,63,829 | 49,99,99,630 |
| Total | 92,23,402 | 4,33,49,98,940 |
Utilization of Issue Proceeds
The Board of Directors has identified the intended use for the funds raised through this preferential issue. The utilization is allocated across two main objects:| Particulars | Estimated Amount to be Utilized (Rs.) | Tentative Time Frame |
|---|---|---|
| Repayment of part of the Working Capital Demand Loan and Cash Credit Facility availed by the Company | 3,27,49,98,940/- | 3 months |
| For general corporate purposes (including ongoing exigencies and contingencies) | 1,06,00,00,000/- | 12 months |
The estimated utilization amounts are subject to a Permitted Deviation of +/- 10% and are based on management estimates.
Shareholding Pattern Status
Prior to the preferential allotment, the company's shareholding pattern showed a total public holding of 33.50%, while Promoter and Promoter Group holdings accounted for 66.50%. The proposed allottees were categorized as Non-Promoters upon issuance. Following the issue, it is expected that the overall Public Shareholding will stand at 38.52%, with a total post-issue share capital of 12,21,27,437 shares.The company has appointed India Ratings and Research Limited as the Monitoring Agency for monitoring the utilization of the Issue Proceeds. The Equity Shares are intended to be listed on BSE Limited and National Stock Exchange of India Limited (NSE).
SKIPPER Stock Price Movement
Today, Skipper Limited shares edged higher to close at ₹573.55, marking a solid gain of 0.53% in post-market trading. The equity saw robust activity, hitting an intraday high of ₹582.9 and closing after over 2.38 million shares were traded.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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