The Board of Directors at their meeting held on 22nd August, 2025 had approved to create, offer, issue and allot 92,50,000 Equity Shares of Rs. 10/- on Preferential Basis.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Classic Leasing & Finance Ltd's board has approved issuing up to 92,50,000 equity shares (face value Rs. 10) on a preferential basis at Rs. 10 per share, raising up to Rs. 9.25 crore. The shares will be allotted to 5 allottees — 3 promoter entities (Manju Bothra, Urvee Bothra Dugar, Rajmahal Credit Capital) and 2 non-promoter entities (Navdhara Verso Pvt. Ltd. and Sunlike Exim Pvt. Ltd.). Post-issue, promoter group holding will jump from roughly 4.26% to about 31.25%, while the two non-promoter allottees will together hold around 45.31%. The board also approved the re-appointment of Mr. Chandra Shekhar Sony as Managing Director and postponed the AGM from September 20 to September 23, 2025.
This is a small Rs. 9.25 crore capital raise at par value, which will significantly dilute existing shareholders since promoter holding rises sharply and the shares are issued at face value rather than at a premium. The large non-promoter stake being created in one go could affect stock liquidity and price discovery post-allotment.