Please find attached Outcome of the Board Meeting.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 22.4 pts more than Nifty Microcap 250 and 21.6 pts more than its Non Banking Financial Company (NBFC) peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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The board approved issuing up to 1,85,36,072 equity shares (face value Rs.10) at Rs.10.05 per share via preferential allotment. The first tranche of 1,60,36,072 shares (worth about Rs.16.12 crore) will go to promoters and promoter group toward conversion of an existing unsecured loan. The second tranche of 25,00,000 shares (worth about Rs.2.51 crore) will go to 7 non-promoter public allottees for cash. After the issue, promoter holding will rise substantially — Jaykishor Chaturvedi alone will move from 7.80% to 33.22%. An EGM is scheduled for 2nd January 2026 to seek shareholder approval.
Existing shareholders will face meaningful dilution (roughly 75%+ new shares being added), with promoter stake rising sharply via loan-to-equity conversion, which reduces debt but also signals promoter commitment. The tiny issue price premium (Rs.0.05) suggests the shares are priced close to face value, and the non-promoter portion is small in size.