Blue Coast Hotels Limited has informed the Exchange regarding allotment of 24,87,100 securities pursuant to conversion of Compulsorily Convertible Preference Shares ("CCPS") at its meeting held on May 13, 2026
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Blue Coast Hotels Limited's Board approved the conversion of 2,48,710 0.01% Compulsorily Convertible Preference Shares (CCPS) held by the Promoter & Promoter Group into 24,87,100 equity shares of Rs. 10 each at a conversion price of Rs. 10 per share. All 11 allottees — including entities such as Solace Investments, Mid-Med Financial Services, and Square Investments — belong entirely to the Promoter & Promoter Group. Following the allotment, the company's paid-up equity share capital increased to Rs. 19,67,95,570 (approximately 1.97 crore shares). Separately, M/s Sidharth K Agarwal & Co. was re-appointed as Internal Auditor for FY 2026-27.
This is a preferential conversion of CCPS entirely within the promoter group, resulting in dilution of minority shareholders' stake. No fresh capital has been raised as this is merely a conversion of existing instruments into equity.