Concord Control Systems raises Rs 50 cr via preferential issue of shares

Concord Control Systems has approved a preferential issue of up to 2,38,500 fully paid-up equity shares. The issue, priced at Rs. 2,100 per share including a substantial premium, is set to raise approx. Rs. 50,08,50,000, subject to shareholders' and regulatory approvals.

The preferential issue witnessed strong confidence from existing investors, with prominent names including Ashish Rameshchandra Kacholia, Sanshi Fund group and the new entrant Sage One Flagship Growth Open-Ended Fund, highlighting a robust endorsement of Concord's growth strategy and market potential.

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