Key Transaction Details
The Board of Directors at its meeting held on 4th August 2026 approved the issuance of up to 49,50,495 fully paid-up Equity Shares of face value ₹10 each at an issue price of ₹40.40 per share (including a premium of ₹30.40 per share), aggregating to ₹20,00,00,000 to Adiniya Investments Private Limited. This issuance is for consideration other than cash, specifically towards conversion of the company's outstanding unsecured loan of ₹20 crore from Adiniya Investments.
Financial Impact
The conversion will extinguish the company's loan liability of ₹20 crore without any cash outflow. It will reduce outstanding debt, strengthen net worth, improve debt-equity ratio, and augment the capital base.
Shareholding Impact
Pre-issue share capital: 6,94,36,948 equity shares. Post-issue share capital: 7,43,87,443 equity shares. Adiniya Investments will hold 49,50,495 shares (6.66% of post-issue capital) after the allotment, up from zero shares currently. There will be no change in management or control of the company.
Pricing Details
The issue price of ₹40.40 per share was determined in accordance with SEBI ICDR Regulations. The relevant date for pricing is 3rd August 2026 (30 days prior to the last date of remote e-voting). The floor price calculated as per regulations was ₹40.29 per share based on the higher of: (i) 90-day VWAP of ₹39.34, and (ii) 10-day VWAP of ₹40.29.
Voting Details
Remote e-voting period: From 09:00 AM IST on 5th August 2026 to 05:00 PM IST on 3rd September 2026. Cut-off date for determining shareholders eligible to vote: 31st July 2026. Scrutinizer: Mr. Pawan Jain of Pawan Jain & Associates. Results will be announced on or before 3rd September 2026.
Lock-in Requirements
The securities allotted will be subject to lock-in requirements as prescribed under Chapter V of SEBI ICDR Regulations.