Sagar Cements allots 1,32,07,548 shares to Premji Invest on preferential basis

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Sagar Cements Limited, announced that its Board of Directors in its meeting held today, allotted 1,32,07,548 equity shares of face value of Rs. 2 each at an issue price of Rs.265/- per share, to PI Opportunities Fund – I Scheme II (“PIOF”), an affiliate of Premji Invest, a leading Private Equity fund in India on a preferential basis in accordance with the approval accorded by the shareholders at their Extra-Ordinary General Meeting held on April 23, 2022.

Pursuant to the above allotment, the paid-up equity share capital of the Company stands increased from Rs.23,50,00,000/- to Rs.26,14,15,096/-.

The investment proceeds will be largely utilized towards meeting the organic and inorganic expansion plans of the Company along with funding its general corporate expenses.