The Board of Directors of Arvind Smartspaces Limited has approved today, the allotment of 40,32,200 (Forty Lakhs Thirty Two Thousand Two Hundred) Equity Shares of face value of Rs. 10/- (Rupees Ten Only) each for cash at a price of Rs. 124.00 (Rupees One Hundred Twenty Four Only) per Equity Share ("Minimum Price"), aggregating to Rs. 49,99,92,800/- (Rupees Forty Nine Crores Ninety Nine Lakhs Ninety Two Thousand Eight Hundred Only) to HDFC CAPITAL AFFORDABLE REAL ESTATE FUND - 1, a Category II Alternative Investment Fund ("Investor") on Preferential basis.
The board also approved allotment of 28,22,500 (Twenty Eight Lakhs Twenty Two Thousand Five Hundred) Equity Shares of face value of Rs. 10/- (Rupees Ten Only) each for cash at a price of Rs. 124.00/- (Rupees One Hundred Twenty Four Only) per Equity Share ("Minimum Price"), aggregating to Rs. 34,99,90,000/- (Rupees Thirty Four Crores Ninety Nine Lakhs Ninety Thousand Only) to the following promoter group entities as per the details listed below, on a preferential basis.
Aura Business Ventures LLP - 16,00,000 shares
Aura Merchandise Private Limited - 12,22,500 shares
Post allotment of above Equity Shares; (a) the paid up Equity Share Capital of the Company is increased to Rs. 42,40,82,500/- (Rupees Forty Two Crores Forty Lakhs Eighty Two Thousand Five Hundred Only) comprising of 4,24,08,250 Equity Share of Rs. 10/- each; (b) shareholding of Promoter and Promoter Group has decreased to 54.34% of expanded capital of the Company.
Shares of Arvind SmartSpaces Limited was last trading in BSE at Rs. 190.60 as compared to the previous close of Rs. 194.90. The total number of shares traded during the day was 12591 in over 272 trades.
The stock hit an intraday high of Rs. 204.50 and intraday low of 187.10. The net turnover during the day was Rs. 2444228.00.