The Board of Directors at their meeting held on 22nd August, 2025 has approved to create, offer, issue and allot 92,50,000 Equity Shares of Rs. 10/- each on Preferential Basis.
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On the reaction day the stock moved 5.1 pts more than Nifty Microcap 250 and 4.6 pts more than its Other Financial Services 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 of Classic Leasing & Finance approved a preferential allotment of up to 92,50,000 equity shares at Rs. 10 per share (face value), to raise up to Rs. 9.25 crore from 5 allottees — 3 promoter-group entities and 2 non-promoter entities. Promoter allottees (Manju Bothra, Urvee Bothra Dugar, Rajmahal Credit Capital) will together get 37 lakh shares, while non-promoter allottees (Navdhara Verso Pvt Ltd and Sunlike Exim Pvt Ltd) will get 55.5 lakh shares. The issue price is at par (Rs. 10 = face value), meaning no premium is being charged. Post-issue, the two non-promoter entities alone will each hold over 22% of the company, indicating a major change in the shareholder base. The Board also re-appointed the Managing Director and postponed the AGM to September 23, 2025 to seek shareholder approval for the preferential issue.
Existing public shareholders face significant dilution as 92.5 lakh new shares are issued at par value — this is a small-cap fundraise that will materially reshape the shareholding pattern, with two new non-promoter entities becoming substantial stakeholders. The at-par pricing means no value capture for current shareholders.