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Comrade Appliances Limited
5 articles
A significant shift in ownership is underway at Comrade Appliances Limited, as the company seeks shareholder approval for a ₹8.16 crore preferential share issue and a concurrent stake sale by promoter Mehboob Alam. The transactions, involving Omnia Appliances and Anadi Investments, will trigger a mandatory open offer for a 26% stake and ultimately result in Omnia Appliances assuming the role of a new promoter, exercising joint control over the company. Proceeds from the preferential allotment will be allocated to working capital and loan repayment, while the stake sale generates ₹6.43 crore for the existing promoter, potentially reshaping the company’s strategic direction and governance structure.
Comrade Appliances ₹8.16 Crore Preferential Share Issue
Comrade Appliances seeks shareholder approval via postal ballot for a preferential issue of 24 lakh equity shares to raise ₹8.16 crore.
The issue price is set at ₹34 per share, with proceeds allocated
Comrade Appliances Open Offer for 26% at INR 35
• Open offer for 26.46 lakh shares (26% stake) in Comrade Appliances Limited at INR 35 per share, triggered by acquisition and preferential issue.
• Acquirers (four entities) to purchase 18.9 lakh sha
Comrade Appliances Approves Preferential Issue and SPA
Board approved preferential issue of 24 lakh shares at ₹34 each to raise ₹8.16 crore from Omnia Appliances and Anadi Investments.
Promoter Mehboob Alam entered SPA to sell 24.3% stake to acquirer cons
Comrade Appliances Preferential Issue 24 Lakh Shares
Comrade Appliances proposes preferential issue of 24 lakh equity shares raising ₹8.16 crore at ₹34 per share.
Allottees include Omnia Appliances (20 lakh shares) and Anadi Investments (4 lakh shares)
Comrade Appliances Approves ₹8.16 Cr Preferential Issue
Board approved preferential allotment of 24 lakh shares at ₹34 each to Omnia Appliances and Anadi Investments, raising ₹8.16 crore.
Promoter Mehboob Alam entered SPA to sell 18.9 lakh shares (24.30% s