Blue Coast Hotels Limited has informed the Exchange regarding Outcome of Board Meeting held on May 13, 2026.

Board & Shareholder Meetings View source PDF

BLUECOAST · price

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AI summary

Blue Coast Hotels Limited's Board approved the allotment of 24,87,100 equity shares (face value Rs. 10 each) following conversion of 2,48,710 Compulsorily Convertible Preference Shares (0.01% CCPS, face value Rs. 100 each). All shares were allotted to 10 promoter group entities including Solace Investments, Mid-Med Financial, Square Investments, and others, on a private placement basis. The conversion price was Rs. 10 per share. As a result, the company's paid-up equity share capital increased to Rs. 19,67,95,570 comprising 1,96,79,557 equity shares. The Board also re-appointed M/s Sidharth K Agarwal & Co. as internal auditor for FY 2026-27.

Likely market impact

This preferential allotment to promoters via CCPS conversion will dilute the equity stake of existing public shareholders. The share count increases by 14.5% (from 1.71 crore to 1.97 crore shares), which could impact earnings per share and voting rights proportionately for minority investors.