The board of Affle (India) Limited on Thursday has approved raising over Rs 749 Crore through a preferential issue of 69 lakh shares to Gamnat Pte Limited, the company announced through an exchange filing.
Gamnat Pte is an investment arm of the government of Singapore.
The company will issue shares of Rs 2 each at 1,085.54 apiece. Post the issuance of shares, Gamnat Pte will hold a total of 4.92 per cent stake in Affle (India), the company said in the regulatory filing.
The preferential issue is subject to shareholder approval.
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Affle (India) shares
The shares of Affle (India) on Thursday morning at 10:35 am IST were trading at Rs 1,010, down by 1.46 per cent.
