Outcome of Board meeting held on 13.03.2026
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The board of Arco Leasing Ltd met on March 13, 2026 and approved two key items. First, it proposed increasing the authorized share capital to Rs. 15.5 crore (1.15 crore equity shares of Rs. 10 each plus 4 lakh preference shares of Rs. 100 each), subject to shareholder approval. Second, it approved a preferential issue of up to 1,06,13,500 equity shares at Rs. 10 per share (at par, no premium), raising up to Rs. 10.61 crore. The shares will be allotted to 19 allottees, including two proposed promoters — Jitesh Kothari and Atul Jaiswal — who will each hold around 36.63% post-issue, along with 17 non-promoter investors. After the issue, these 19 allottees will together hold about 97.79% of the company.
This is a significant ownership change with major dilution for existing public shareholders. Two new promoters are set to take near-complete control of the company, which is a small-cap leasing firm. Shareholders should expect a sharp change in the shareholding pattern and board composition once the EGM and allotment are completed.