Key Quantitative Figures
- Preferential Issue Size: ₹76,80,000 (Rupees Seventy Six Lakhs Eighty Thousand Only)
- Warrants to be Issued: 40,00,000 (Forty Lakhs) fully convertible warrants
- Issue Price: ₹1.92 per warrant (including premium of ₹0.92 per share)
- Upfront Payment: 25% of issue price (₹0.48 per warrant)
- Conversion Tenure: 18 months from allotment date
- Related Party Transaction Limit: ₹5 Crore per entity
- FY 2025-26 Turnover: ₹35.34 Crores
- FY 2025-26 Net Profit after Tax: ₹1.95 Crores
- Current Promoter Holding: 51.747% of fully diluted share capital
- Post-Issue Promoter Holding: 52.744% of fully diluted share capital (upon warrant conversion)
Dates of Action
- AGM Date: Thursday, 10th September, 2026 at 12.15 pm IST
- Record Date: 21st August, 2026
- Remote e-Voting Period: 7th September, 2026 (9:00 AM) to 10th September, 2026 (5:00 PM)
- Board Meeting Date: 12th August, 2026
- Relevant Date for Pricing: 11th August, 2026 (30 days prior to AGM)
- Allotment Completion: Within 15 days from resolution passing
Parties Involved
- Stock Exchange: BSE Limited
- e-Voting Service Provider: National Securities Depository Limited (NSDL)
- Proposed Allottee: Mr. Pravin Gala (Promoter)
- Company Secretary: Sheetal Dedhia (ACS 52175)
- Auditors: Not specified in document
- Related Parties: Nipra Trading Private Limited, GM Mercantile Private Limited, Anupam Wealth Private Limited, Anupam Stationery Limited, Dreamroad Technologies Private Limited
Purpose and Rationale
Preferential Issue: To raise funds for growth initiatives of the business, granting credit, repayment of debt, and general corporate purposes including working capital requirements.
Remuneration Approval: To retain exceptional talent and provide competitive compensation to Mr. Siddharth Gala, Chief Executive Officer and Managing Director, reflecting his duties, industry benchmarks, and performance metrics.
Related Party Transactions: To obtain approval for ongoing business transactions with related parties in the ordinary course of business at arm's length.
Capital Structure Impact
- Pre-Preferential Share Capital: 18,97,67,750 equity shares
- Warrants to be Issued: 40,00,000 warrants convertible into 40,00,000 equity shares
- Post-Conversion Share Capital: 19,37,67,750 equity shares
- Dilution Impact: 2.11% dilution upon full conversion
- Promoter Holding Change: Mr. Pravin Gala's holding increases from 21.751% to 23.366% upon conversion
Financial and Operational Impact
- Funds Utilization: Proceeds will be used for business growth, credit granting, debt repayment, and working capital requirements
- Remuneration Impact: Mr. Siddharth Gala's proposed remuneration includes basic salary of ₹125,000 per month, perquisites, and performance-linked incentive up to 5% of net profits
- Profit Scenario: In case of absence or inadequacy of profits, remuneration will still be payable as specified
Voting and Meeting Arrangements
- AGM to be conducted through Video Conferencing/Other Audio Visual Means (VC/OAVM)
- Facility for remote e-voting provided through NSDL
- Members can join meeting 15 minutes before scheduled time
- Attendance through VC/OAVM will be counted for quorum purposes
Lock-in Requirements
- Warrants and resultant equity shares issued to allottees subject to lock-in requirements as specified under Chapter V of SEBI ICDR Regulations
Director Information (Mr. Pravin Gala)
- Date of Birth: 02-11-1964
- Age: 62 years
- Qualification: Chartered Accountant
- Date of First Appointment: 28-04-2017
- Shares Held: 4,12,75,700 equity shares
- Board Meetings Attended (FY 2025-26): 05
- Other Directorships: Anupam Realties Private Limited, Nipra Trading Private Limited, GM Mercantile Private Limited