The Board of Directors at their meeting held on 09.01.2026 have approved the allotment of 92,50,000 Equity Shares of Rs. 10/- each at a price of Rs. 11.50/- on Preferetial Basis.
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The Board of Classic Leasing & Finance Ltd approved the allotment of 92.5 lakh fully paid-up equity shares at Rs. 11.50 per share (face value Rs. 10, premium of Rs. 1.50) on a preferential and private placement basis. Shares were allotted to 5 allottees — promoters Manju Bothra (26.5 lakh shares) and Urvee Bothra Dugar (8.5 lakh), promoter group entity Rajmahal Credit Capital (2 lakh), and non-promoters Navdhara Verso (27.5 lakh) and Sunlike Exim (28 lakh). Total consideration raised is about Rs. 10.64 crore. As a result, the company's paid-up share capital rises sharply from Rs. 3 crore (30 lakh shares) to Rs. 12.25 crore (1.225 crore shares), a roughly 4x expansion. Promoter Manju Bothra's stake jumps from 2.63% to 22.28%, and the two non-promoter allottees together will hold about 45.3% post-issue.
Existing minority shareholders face significant dilution as the share base expands about 4 times with the new preferential shares; the issue price carries only a small Rs. 1.50 premium over face value, which is typically seen as low for preferential issues and may weigh on stock sentiment in the near term.