Revised Outcome of the Board Meeting held on 30.03.2026
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Bazel International has filed a corrigendum correcting typographical errors in the shareholding details of Durgesh Merchants Limited from the March 30, 2026 board meeting outcome. The pre-issue holding of Durgesh Merchants was incorrectly stated as 8,74,316 shares (1.13%) instead of the correct 10,09,562 shares (13.09%). The post-issue holding was corrected from 15,12,959 shares (1.54%) to 16,48,205 shares (16.79%). The original meeting had approved: (1) allotment of 21,04,802 equity shares upon conversion of warrants at Rs. 42.12 per share, raising Rs. 6.65 crore; (2) appointment of Mr. Mayank Ahuja as Additional Non-Executive Director; and (3) increase in authorised share capital from Rs. 7.75 crore to Rs. 10.25 crore. Paid-up capital increased from Rs. 7.71 crore to Rs. 9.82 crore.
The warrant conversion resulted in significant dilution of approximately 27% to existing shareholders. Durgesh Merchants and Garbi Finvest have emerged as major shareholders with 16.79% and 12.69% stakes respectively. The correction of shareholding percentages may impact market perception of promoter group concentration.