Key Quantitative Figures

  • The Board approved the allotment of 9,00,00,000 (Nine Crore) equity shares of face value ₹10 each on a preferential basis.
  • The shares were allotted for consideration other than cash (share swap) to discharge a total purchase consideration of ₹90,00,00,000 (Ninety Crore) for the acquisition of 90,00,000 (Ninety Lakh) equity shares of M/s. Cultureantique Jewellery Private Limited (CJPL).
  • The acquisition price was ₹100 per equity share of CJPL.
  • CJPL's financials: Turnover was ₹40.13 crore in FY2024, ₹40.83 crore in FY2025, and ₹94.95 crore in FY2026. Authorized and paid-up capital as on date is ₹9 crore.

Dates of Action

  • Board Meeting Date: September 10, 2026 (commenced at 5:30 PM, concluded at 6:30 PM).
  • The acquisition is expected to be completed within 15 days from the later of: (i) date of special resolution approval for the preferential issue, or (ii) receipt of all requisite regulatory approvals.
  • CJPL's date of incorporation: June 24, 2021.

Parties Involved

  • Issuer: 7NR Retail Limited (CIN: L52320GJ2012PLC073076).
  • Target Entity: Cultureantique Jewellery Private Limited (CIN: U36999GJ2021PTC123576).
  • Regulator: BSE Limited (from whom in-principle approval was received).
  • Allottees: 11 non-promoter entities including individuals and companies (detailed in Annexure-I):
  • Maulik Patel (45,00,000 shares)
  • Chandrikaben Kanubhai Patel (45,00,000 shares)
  • Rakeshkumar Narayanbhai Patel (45,00,000 shares)
  • Varcas Decor Private Limited [Directors: Henil Rameshbhai Patel] (1,62,00,000 shares)
  • Kailashben Chandrakant Patel (45,00,000 shares)
  • Kinjalben Maulik Patel (45,00,000 shares)
  • Arha Online Marketing Private Limited [Directors: Raj Dhirajbhai Desai, Sunil G Patel] (1,62,00,000 shares)
  • Kokilaben Vinodchandra Patel (5,49,000 shares)
  • Alpaben Raval (5,49,000 shares)
  • Briny Digitalize Private Limited [Directors: Nishant Patel, Shreepad H Patel] (1,70,10,000 shares)
  • Shree Nathji Cold Storage Private Limited [Directors: Patel Kosha, Halvadia Sonal Hardikbhai] (1,69,92,000 shares)

Purpose/Rationale

The acquisition is strategically aimed to diversify 7NR Retail's existing business and strengthen its business operations. It is expected to support long-term growth objectives, improve efficiencies, and create value for stakeholders.

Financial/Operational Impact

  • The acquisition gives 7NR Retail a 100% equity stake in CJPL, making it a subsidiary.
  • CJPL is engaged in the business of manufacturing and trading of gold and silver jewellery.
  • The transaction does not fall under related party transactions.
  • No governmental or regulatory approvals are required for the acquisition.

Capital Structure Impact

  • The issuance of 9 crore new equity shares significantly increases the share capital of 7NR Retail Limited.
  • All allottees are classified as non-promoters.