Ajmera Realty Share Price Hits Nearly Six-Month High After Fund Raise Announcement

Ajmera Realty & Infra India Ltd.'s share price surged to hit its highest level since April 2024, after the company's board approved a fund raise of Rs 225 crore through preferential issue.

The company has approved issue and allotment of 31.64 lakh equity shares, having face value of Rs 10 per equity share, on a preferential basis, according to an exchange filing. The issue price is Rs 711 per equity share.

Ajmera Realty also disclosed the details of 13 investors or identified allotees along with the shares being allotted. It said that these are other than promoters that are public shareholders.

Authum Investment & Infrastructure Ltd. and Mukul Mahavir Agrawal were among the investors that will be allotted 7.59 lakh shares or 1.93% stake in the company, the most among the 13.

Minosha India Ltd., Anchorage Capital Scheme II, Prabhudas Lilladher Advisory Services Pvt., Mahalaxmi Brokerage (India) Pvt., and Vijay Khetan are some of the other investors identified by the company.

The equity shares shall be subject to lock-in for such period as prescribed under the applicable provisions of SEBI ICDR Regulations, the filing also said.

Share price of Ajmera Realty rose as much as 8.57%, the highest level since April 24. It pared gains to trade 5.05% higher at Rs 845.50 apiece, as of 1:09 p.m., compared to a 0.3% advance in the NSE Nifty 50.

The stock has risen 92.3% on a year-to-date basis and 123% in the last 12 months. Total traded volume so far in the day stood at 6.7 times its 30-day average. The relative strength index was at 73.62, indicating that the stock may be overbought.