Arvind SmartSpaces shines on raising Rs 85 crore from Investors
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Arvind Smartspaces is currently trading at Rs. 151.40, up by 4.35 points or 2.96% from its previous closing of Rs. 147.05 on the BSE.
The scrip opened at Rs. 152.00 and has touched a high and low of Rs. 154.00 and Rs. 150.85 respectively. So far 1402 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 154.60 on 08-Sep-2021 and a 52 week low of Rs. 81.25 on 24-Sep-2020.
Last one week high and low of the scrip stood at Rs. 154.60 and Rs. 135.60 respectively. The current market cap of the company is Rs. 522.81 crore.
The promoters holding in the company stood at 56.88%, while Institutions and Non-Institutions held 0.36% and 42.76% respectively.
Arvind SmartSpaces (ASL) has raised around Rs 85 crore equity capital through the allotment of 68.5 lakh equity shares to HDFC Capital Affordable Real Estate Fund-1 (H-CARE 1) and the promoters of ASL for Rs 124 per share.
Post allotment of shares, H-CARE 1 will have about a 9.5 per cent stake in the company. The equity raised in this round will give a strong impetus to this growth initiative and further strengthen the balance sheet. The enhanced equity base and low leverage give the company significant headroom to raise further capital to pursue value accretive opportunities. The Board of Directors of the company at its meeting held on September 10, 2021 has approved the same.
The company is engaged in to the business of Construction and Real Estate.
