Blue Coast Hotel Limited has informed the exchange regarding re-appointment of M/s Sidharth K Agarwal & Co. as Internal Auditor of the company for FY 2026-27
BLUECOAST · price
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Blue Coast Hotels' Board approved two key items on May 13, 2026. First, it allotted 24,87,100 equity shares (Rs. 10 each) to 11 entities belonging to the Promoter & Promoter Group, following conversion of 2,48,710 Compulsorily Convertible Preference Shares (CCPS) at Rs. 100 face value each. Allottees include entities such as Solace Investments, Mid-Med Financial Services, Square Investments, and several others, all under the promoter group. Second, the Board re-appointed M/s Sidharth K Agarwal & Co. as the company's Internal Auditor for FY 2026-27. As a result, the company's paid-up equity share capital increased to Rs. 19,67,95,570 (approximately Rs. 19.68 crore) comprising 1,96,79,557 equity shares. The meeting lasted one hour.
The preferential allotment of shares entirely to promoter-group entities increases their collective stake, diluting the public shareholding. Shareholders should note this is a conversion of existing preference shares, not a fresh capital raise. The re-appointment of the internal auditor is routine and carries no immediate market impact.