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L.T. Elevator Limited acquires Ricardo Elevators through share swap, boosting equity capital
09-Oct-2026, 06:56
L.T. Elevator Limited announced that its board of directors approved the allotment of 4,61,000 equity shares on a preferential basis for consideration other than cash, which involved a swap of the entire equity share capital of Ricardo Elevators Private Limited. The shares were allotted to Ms. Muralidharan Akshaya, Ms. Chandrakala Kallepelli, Ms. Prathyusha Peddeham, and Ms. Deepika Hemnani, increasing the company's issued and paid-up equity share capital to Rs 21,72,41,330 consisting of 2,17,24,133 equity shares of Rs 10 each, with an issue price of Rs 281.86 per share.