Swagtam Trading to Raise ₹30 Crores via Equity and Convertible Securities Issuance

Team Finance Saathi

22/Jan/2025

What's covered under the Article

Swagtam Trading's Board has approved a fundraising plan of ₹30 crores through securities issuance.
The fundraising will include equity shares or convertible securities via QIP, preferential allotment, or private placement.
The initiative aligns with regulatory guidelines, subject to shareholder and statutory approvals.

Swagtam Trading & Services Limited, a company listed under BSE Scrip Code 539406, has disclosed its plans to raise up to Rs. 30 crores by issuing equity shares, convertible securities, or warrants, as part of its funding strategy. This move was approved during the Board Meeting held on January 20, 2025, and is in accordance with the provisions outlined under the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations 2015 (SEBI LODR).

The proposal includes raising capital through various methods such as preferential allotment, private placement, qualified institutional placement (QIP), or rights issues, in one or more tranches. The total amount for the securities issuance is set not to exceed Rs. 30 crores or its equivalent in foreign currency, with the price or premium for the securities to be determined in compliance with applicable laws. The Board of Directors will finalize the exact mode of issuance as per prevailing legal frameworks.

Under Regulation 30 of the SEBI LODR, the details of the proposed issuance include the type of securities (equity shares, convertibles, or warrants), the issuance mode (preferential allotment, private placement, etc.), and the total amount being raised. However, no details are provided regarding the names of investors or the post-allotment subscription outcomes, as these will only be disclosed post-issuance.

The proposed fundraising is subject to regulatory approvals, including shareholder consent, and will follow all necessary procedures to meet the requirements of the Companies Act, 2013 and SEBI (Issue of Capital and Disclosure Requirements) Regulations 2018. Swagtam Trading & Services aims to enhance its operational growth and expand its business reach with the funds raised through this exercise.

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Swagtam Trading to Raise ₹30 Crores via Equity and Convertible Securities Issuance

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