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In the report `Ambica Agarbathies promoters to hike stake via pref issue' published on May 4, the word `promoters' should `core promoters'.

Of the existing holding of 62.5 per cent of the promoter group, the core promoters hold 9.75 lakh equity shares of Rs 10 each, representing a stake of 7.18 per cent on the existing paid-up equity of Rs 13.57 crore.

Directors and their relatives, who do not fall under the category of core promoters but come under the broad promoter group, currently hold 75.1 lakh shares, constituting 55.32 per cent holding.

Of the proposed preferential offer of 40 lakh shares, the board plans to offer 10 lakh shares to the core promoters and 30 lakh shares to a couple of FIIs and OCBs.

Pursuant to the proposed preferential offer, the holding of the core promoters would increase to 19.75 lakh shares, representing 11.24 per cent stake on the expanded equity base of Rs 17.57 crore.

The holding of others in the promoters' group would remain unchanged in terms of number of shares at 75.1 lakh shares. However, in terms of percentage, their holding on the expanded equity would come down to 42.73 per cent from the current level of 55.32 per cent.

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