RACL Geartech to raise funds via preferential share issue

RACL Geartech (BSE: RACLGEAR) announced its Board of Directors has approved raising funds through a preferential issue of equity shares via private placement. The company will offer up to 830,711 equity shares at a price of INR 794.50 each to Qualified Institutional Buyers, raising up to INR 65,99,99,889.50. Additionally, up to 175,769 shares will be offered at INR 796.50 each to Non-Qualified Institutional Buyers, raising up to INR 14,00,00,008.50. The issuance is subject to shareholder and regulatory approvals. An Extraordinary General Meeting is scheduled for May 7, 2025, to seek shareholder approval for the matter. The company has appointed Ms. Rosy Jaiswal & Associates as Scrutinizer for the aforementioned EGM.