Blue Coast Hotels Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 13/05/2026 ,inter alia, to consider and approve the allotment of 24,87,100 ....
BLUECOAST · price
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Blue Coast Hotels Ltd has scheduled a Board Meeting on 13th May 2026 to consider and approve the allotment of 24,87,100 equity shares of Rs. 10/- each. These shares will be issued on a preferential basis to the Promoter & Promoter group category, pursuant to the conversion of 2,48,710 Compulsorily Convertible Preference Shares (CCPS) of Rs. 100/- each carrying a 0.01% coupon rate. The conversion ratio works out to 10 equity shares per CCPS, maintaining the same aggregate value of approximately Rs. 2.49 crore. This is a routine promoter-level conversion of existing preference holdings into equity.
This conversion increases the promoter group's equity holding in the company. For retail shareholders, this represents dilution of their stake but no immediate cash flow impact. The preferential allotment to insiders may signal promoter confidence in the company's prospects.