Allotment of Equity Shares on Preferential Basis
Price
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Classic Leasing & Finance Ltd has allotted 92,50,000 fully paid-up equity shares at Rs. 11.50 per share (face value Rs. 10, premium of Rs. 1.50) via preferential allotment to 5 allottees, raising approximately Rs. 10.64 crore. Promoters Manju Bothra and Urvee Bothra Dugar received 26.5 lakh and 8.5 lakh shares respectively, while promoter group entity Rajmahal Credit Capital got 2 lakh shares. Non-promoter entities Navdhara Verso Pvt. Ltd. and Sunlike Exim Pvt. Ltd. received the largest tranches of 27.5 lakh and 28 lakh shares respectively. The company's paid-up equity capital rises from Rs. 3 crore to about Rs. 12.25 crore, more than quadrupling the share count from 30 lakh to 1.225 crore shares. Member approval was obtained on September 23, 2025, with revised issue price intimation on December 15, 2025, and BSE in-principle approval on December 29, 2025.
This is a heavily dilutive issuance — existing shareholders will see their stake reduced by roughly 75% as share count quadruples, while the issue price of Rs. 11.50 carries only a marginal Rs. 1.50 premium over face value, suggesting the capital was raised on favourable terms for the allottees. Post-allotment, two non-promoter entities (Sunlike Exim and Navdhara Verso) will each hold over 22% of the company, making them major shareholders alongside the promoters.