Servotech Power Systems Ltd changes preferential issue price to ₹83.40 per share

Shocking: Servotech Power Systems has now officially changed the preferential issue price to Rs. 83.40 per share. The company board has officially changed the reference fate from 10th November 2023 to 17th November 2023. It has led to the change in the preferential issue price from Rs. 82 to Rs. 83.40 per equity share. Because of the changes in the company’s preferential issue price, the issue size has now gone up from Rs. 73.80 crore to Rs. 75.06 crore. Check out this entire article to learn everything about this new change in the market. Do not miss any line of this article if you want to learn everything.

Servotech Power Systems Ltd

Servotech Power Systems preferential issue 2023, is one of the biggest focus things in the market right now. As per the source, now the Servotech Power Systems Limited, board of directors has officially revised the issue price from Rs. 82 per equity share to Rs. 83.40 per share. At this time the board of the company has revised the preferential issue p[rice in the board meeting which happened on 28th November 2023, Tuesday which means yesterday. Because of the changes in the company’s preferential issue price, the size of the issue is going to change from Rs. 73.80 crore to Rs. 75.06 crore. Keep reading.

When Servotech Power Systems Limited informed the Indian Stock Market of changes regarding the revision in the preferential issue price, the company said, As per the terms of Regulation 30 of the SEBI Regulation 2015 and the continuation preferential issue of the 90,00,000 warrants in the terms of SEBI (ICDR) Regulations 2018 it has been officially approved that the subject to all the important approvals and also the under the power is going to be conferred to the board. As there is a relation to the preferential issue it is important to be initiated to settle any question. Some difficulties may be raised in this regard.

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On 28th November 2023, Tuesday, Servotech Power System Ltd. held a meeting. In the meeting, some decisions were taken. The biggest decision is to revise or change the relevant date. There is a conclusion date of the Postal Ballot which is currently attracting members to approve the preferential issue which is officially held for 17th December 2023 as per the terms of regulation 161 of the SEBI (ICDR) Regulations 2018. This claimed that the relevant date should be scheduled for the date thirty before the date on which the meeting of shareholders is going to be considered the preferential issue.

Prakash Israni
Prakash Israni

Prakash, the content creator for Techballad, has built a solid reputation for himself over the course of more than ten years of blogging