Standard Engineering Technology allots 24.4 lakh shares at ₹293 on a preferential basis, raising about ₹71.5 crore

Standard Engineering Technology Limited, formerly Standard Glass Lining Technology Limited, has told the exchanges that its board, at a meeting on 16 Oct 2026 that ran from 10:00 AM to 10:16 AM, allotted 24,39,750 fully paid-up equity shares of ₹10 each on a preferential basis. The issue price was ₹293 per share, including a premium of ₹283, for a total of ₹71,48,46,750 (about ₹71.5 crore).

The allotment follows a special resolution passed by shareholders at the extraordinary general meeting on 10 Aug 2026 and in-principle approvals from BSE and NSE dated 1 Oct 2026. It was made after the full consideration was received, to non-promoter investors. The new shares rank equally with the existing equity shares, and the company will apply to the exchanges for listing and trading approval.

The allottees are AGI Group Holdings Inc., which received 22,77,100 shares, and Monoflus Pte. Ltd., which received 1,62,650 shares. AGI Group Holdings held no shares before the issue and holds 1.11% after it. Monoflus held 71,70,000 shares, or 3.59%, before the issue and holds 73,32,650 shares, or 3.58%, after it.

Inference

The allotment brings in about ₹71.5 crore of new equity capital and adds 24.4 lakh shares, so existing shareholders’ percentage holdings are slightly diluted. Monoflus’ stake moves from 3.59% to 3.58% even after it took up new shares.

The new shares can be traded only after the exchanges give listing and trading approval, which the company has yet to apply for. The filing does not say what the money will be used for.