Announced Wed, 7 Oct, 2026 · 17:11 IST
Board okays preferential issue to promoter, converts Rs 15 cr loan and preference shares
BATLIBOI · price
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Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹94.55
prior close
₹97.80
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-2.8-2.7-1.8-1.5——————————
Up moveDown movePending
AI summary
Board approved preferential issue of up to 19,31,699 equity shares to Promoter-Chairman Mr. Nirmal Bhogilal at Rs 113.50 per share, above the fair value of Rs 90.31. This covers conversion of a Rs 15 crore unsecured loan into 13,21,585 shares and conversion of 6,92,480 preference shares into 6,10,114 equity shares. Also appointed a new independent director and allotted 29,999 shares under ESOP.
Likely market impact
Promoter stake rises post shareholder approval. Rs 15 cr loan converts to equity, improving capital structure. Both conversions are non-cash.