Appointment of Mr. Vinodkumar Bhanwer Singh as an executive director.
Awaiting price reaction for this filing.
Krishna Capital and Securities Ltd's board approved multiple major actions on 26 March 2026. Promoters and the promoter group have signed a Share Purchase Agreement to sell 13,53,892 equity shares (42.87% stake) to Mr. Ashu Jagmalaram Bishnoi and Mr. Yagnik Bharatkumar Tank at ₹20 per share, resulting in a change of control and triggering a mandatory open offer to public shareholders under SEBI Takeover Regulations. The company will also issue up to 3 crore equity shares via preferential allotment at ₹20 per share, aggregating ₹60 crore, with the two acquirers taking the bulk (80 lakh and 1.55 crore shares respectively), effectively making them the new promoters. Authorized share capital will be raised from ₹4 crore to ₹34 crore subject to shareholder approval. Separately, Mr. Vinodkumar Bhanwer Singh (DIN: 10454743), a retired SBI General Manager with 34 years of banking experience, has been appointed as an Additional Executive Director. An EGM is scheduled for 25 April 2026 to seek shareholder approval.
This is a complete change of control event for the company — existing promoters are exiting, new promoters are coming in, and ₹60 crore is being raised via preferential issue. Shareholders should watch for the open offer details and vote carefully at the 25 April EGM, as control and management are both being transferred.