Rohit Sharma-Tilak Verma bought 11000 shares in Swaraj Suiting: KKR coach also included in the list; Company plans to raise ₹103 crore from preferential allotment

SME company Swaraj Suiting has passed a plan to raise ₹103 crore through preferential allotment. In this, former Indian captain Rohit Sharma and Tilak Verma will get 11 thousand shares each.

KKR coach Abhishek Mohan Nair and Shreyas Iyer’s father Santosh Venkateshwaran Iyer are also in the list. A total of 198 people will be allotted shares. The share price has been kept at ₹236.

What is preferential issue, how does the company raise money through it?

The company raises money by selling shares directly to selected people. Like IPO, it does not sell to the public, but instead decides itself to whom to give shares. Like big investors, promoters, friends, relatives or celebrities.

Details of preferential issue

In an exchange filing dated November 25, the board approved the issue of 43.76 lakh shares on preferential basis at ₹236 per share. This will bring in ₹103.28 crore.

Apart from this, there is a plan to raise ₹160.41 crore from convertible warrants. Total fund raise can be up to Rs 263 crore. EGM has been called on 24 December.

Swaraj Suiting is a textile sector company

Swaraj Suiting is an SME company in the textile sector. Its shares closed 2.90% higher at ₹280 on NSE today. 52 week high reached ₹287.45 during the day. It rose 43% in November and 20% in October. IPO price was ₹56, listing took place in March 2022. Has given 400% return till now. Revenue grew 26% to ₹204.16 crore and PAT grew 67% to ₹23.66 crore in Q2 FY26.

Company will increase borrowing limit to ₹1,000 crore

Apart from the fundraising, Swaraj Suitings has also sought shareholders’ approval on several other financial proposals. These include permission to give loans or guarantees up to ₹75 crore to entities in which company directors may have stake or interest. The company has also proposed to increase its borrowing limit to ₹1,000 crore and allow it to create charge or mortgage on its properties up to the same amount.