Key Quantitative Figures

  • Issue Proceeds Utilization: ₹29.28 crore allocated for working capital requirements
  • Pre-Issue Share Capital: 15,151,774 equity shares
  • Post-Issue Share Capital: 15,665,546 equity shares (assuming full allotment)
  • Promoter Holding Dilution: From 74.99% (11,363,621 shares) to 72.54% (11,363,621 shares)
  • Public Holding Increase: From 25.01% (3,788,153 shares) to 27.46% (4,301,925 shares)

Dates of Action

  • EGM Date: October 13, 2026
  • Record Date: September 18, 2026 (benpos date for shareholding pattern)
  • Corrigendum Date: October 6, 2026
  • Allotment Timeline: Within 15 days from shareholder approval or regulatory approvals
  • Funds Utilization Timeline: 12 months from date of receipt of funds/allotment

Parties Involved

Allottees in Preferential Issue:

  • Ashish Kacholia (Non-Promoter/Public) - 342,637 shares (2.19% post-issue)
  • Heetaben Amar Maurya (Non-Promoter/Public) - 7,100 shares (0.04% post-issue)
  • Kadayam Ramanathan Bharat (Non-Promoter/Public) - 114,035 shares (increasing total to 294,035 shares, 1.88% post-issue)
  • Ashika Global Securities Limited (Non-Promoter/Public) - 50,000 shares (0.32% post-issue)

Ultimate Beneficial Owners for Ashika Global Securities Limited:

  • Pawan Jain (multiple entities including HUF, partnerships and companies)
  • Daulat Jain (multiple entities)
  • Shashi Jain
  • Roshni Jain
  • Kanchan Devi Jain

Practicing Company Secretary: Ms S Anupriyankha (Mem. No. FCS: 14265) of M/s. Anupriyankha & Associates

Company Management: Navneetkumar Semani, Managing Director (DIN: 01782793)

Utilization of Proceeds

The Company proposes to utilise the ₹29.28 crore proceeds towards working capital requirements for its existing and growing manufacturing operations, including:

  • Procurement of raw materials, chemicals, packing materials and consumables
  • Maintenance of adequate inventory of raw materials, work-in-progress and finished goods
  • Meeting trade receivables and vendor payment requirements
  • Other operating working capital requirements in connection with the Company's business of manufacturing commercial and industrial explosives

Shareholding Pattern Changes

Pre-Issue (as of September 18, 2026):

  • Promoter & Promoter Group: 74.99% (11,363,621 shares)
  • Public Shareholding: 25.01% (3,788,153 shares)
  • Domestic Institutions: 3.72% (564,000 shares)
  • Foreign Portfolio Investors: 0.11% (16,000 shares)
  • Resident Individuals: 16.24% (2,460,153 shares)
  • NRIs: 0.34% (52,800 shares)
  • Bodies Corporate: 3.88% (588,000 shares)
  • HUF: 0.71% (107,200 shares)

Post-Issue (projected):

  • Promoter & Promoter Group: 72.54% (11,363,621 shares) - no change in absolute shares
  • Public Shareholding: 27.46% (4,301,925 shares)
  • Domestic Institutions: 3.60% (564,000 shares)
  • Foreign Portfolio Investors: 0.10% (16,000 shares)
  • Resident Individuals: 15.51% (2,430,153 shares)
  • NRIs: 0.34% (52,800 shares)
  • Bodies Corporate: 4.07% (638,000 shares)
  • HUF: 0.68% (107,200 shares)

Notes and Assumptions

  • Post-issue shareholding percentages calculated assuming all equity shares will be subscribed by allottees
  • Percentages rounded to keep total at 100%
  • Shareholding in all other categories assumed to remain unchanged
  • Company will ensure compliance with SEBI ICDR Regulations at time of allotment