Affle India on Thursday said its board has approved the issuance of preferential shares to Gamnat Pte. Ltd, a step-down subsidiary of the Minister for Finance, Government of Singapore. “The company will issue 69 lakh equity shares amounting to nearly 5 per cent stake on a preferential basis at Rs 1,085.54 apiece to the Singapore-based entity. The floor price of the share issuance sits at a near 6 per cent premium to the stock’s closing price on October 25,’ the company said in a regulatory filing. The total deal value from the preferential share issue is around Rs 749.02 crore. …
