ASM Tech shares rally 10% to record high as Radhakishan Damani, Mukul Agrawal join Rs 526-crore preferential issue

Shares of ASM Technologies rallied as much as 10% to hit an all-time high of Rs 6,990 on Wednesday after the company approved a Rs 525.99-crore preferential issue, with entities linked to Avenue Supermarts promoter Radhakishan Damani and investor Mukul Agrawal among the investors receiving shares.

The company’s board approved a preferential issue of up to 10.78 lakh equity shares with a face value of Rs 10 each at Rs 4,875 per share. The issue is worth Rs 525.99 crore, according to the company’s exchange filing.

The preferential allotment will be made to SBI Mutual Fund through its various schemes, SBI Emergent India Fund, a scheme of SBI Alternate Equity Fund, Derive Trading and Resorts Pvt Ltd and Asha Mukul Agrawal.


All four investors are non-promoters of the company. Derive Trading and Resorts Pvt Ltd is associated with Avenue Supermarts promoter and Dalal Street veteran Radhakishan Damani.

After the issue, Derive Trading and Resorts Pvt Ltd will also hold 0.65%, while Asha Mukul Agrawal will have a 0.33% stake.

Asha Mukul Agrawal’s investment comes after Mukul Agrawal already held a 10.28% stake in the company.

Promoter entities held a 57.65% stake in ASM Technologies at the end of the June quarter, while public shareholders owned the remaining 42.35%. Following the preferential issue, SBI Mutual Fund through its various schemes will hold 5.25%, while SBI Emergent India Fund will own 0.65%.

More than 27,000 small retail shareholders, defined as those with Authorised Share Capital of up to Rs 2 lakh, held a 16.96% stake in the company at the end of the June quarter.

ASM Tech shares have had a stellar 2026 as stock price has rallied 200% in the last six months. In the last one month, shares of the company are up almost 40%.

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ASM Technologies provides engineering services and product R&D solutions, offering consulting and product development services to global clients. The company has more than two decades of experience and operates through development and support centres in India and overseas, with a presence across the US, Singapore, UK, Canada, Mexico and Japan.

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