Captain Technocast Boosts Equity with Successful Share Allotment

Captain Technocast Limited has successfully distributed 1,400,000 equity shares after converting warrants, raising capital for growth and operational improvements. The move strengthens their financial base and enhances their ability to deliver quality products to industrial clients, marking a strategic milestone for the company's future development.

Captain Technocast Limited (CTCL), a major player in the precision investment casting industry, has announced the completion of a significant equity share allotment. The company has issued 1,400,000 equity shares through the conversion of equivalent warrants, expanding its paid-up equity capital from Rs10.21 crore to Rs11.61 crore.

The issuance, which involved 17 non-promoter group allottees, marks a substantial financial development for CTCL. Each share, issued at a face value of Rs10 with an additional Rs50 premium, has brought the total value to Rs8.4 crore. This strategic move is set to enhance the company's financial standing and promote future growth.

Anil V. Bhalu, Managing Director of CTCL, highlighted the importance of this equity allotment in advancing the company's strategic goals. He emphasized the strengthened financial position and reaffirmed the company's commitment to utilizing the new resources for operational improvements and delivering high-quality services to clients in various industrial sectors.

(With inputs from agencies.)