Allotment of 1,41,00,000 Equity Shares of the Company on a Preferential Basis
Awaiting price reaction for this filing.
B J Duplex Boards allotted 1.41 crore equity shares at ₹1 per share (face value) on a preferential basis, aggregating ₹1.41 crore. Of these, 1.06 crore went to Prabhatam Investments Private Limited (new promoter), 25 lakh to Mayank Gupta (promoter group), and 10 lakh to Sandesh Jaju (non-promoter). The company's paid-up equity capital increased from ₹49.28 lakh to ₹1.90 crore, a near 3-fold expansion in the share count. Prabhatam Investments has become the new promoter, marking a change of control, with erstwhile promoters reclassified as public shareholders. The board also appointed Mayank Gupta as Whole-time Executive Director and Subhash Sahu as Non-Executive Director, while two existing directors and the CFO resigned citing the change in control.
This is a significant change-of-control event with massive dilution (~286% jump in share count) for existing shareholders. The stock may see volatility as new management takes over; shareholders should watch for the new promoter's business plans and any follow-on fund-raising at potentially higher valuations.