Insider Trading / SAST

Iconik Sports and Events Limited (formerly ID Info Business Services Limited) has announced a preferential allotment increasing its equity share capital from Rs. 19.66 Cr (1.97 Cr shares) to Rs. 33.84 Cr (3.38 Cr shares). Promoters and persons acting in concert, led by Mahalakshmi Selvaraj, acquired 25 lakh shares (7.39%), raising their combined holding to 11.25% post-issue.

This capital infusion through preferential allotment indicates increased promoter confidence and could support the company’s operational or expansion plans, potentially benefiting shareholders by strengthening the financial position.