Preferential issue of 24 lakh shares and promoter stake sale triggering change of control

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Price reactionminutes from the announcement price · days from the prior close

+7.9%Reaction day

₹28.00

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.7%+7.1% vs market

Consumer Electronics peers, median of 13sector+0.3%+7.6% vs sector

On the reaction day the stock moved 7.1 pts more than Nifty Microcap 250 and 7.6 pts more than its Consumer Electronics peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+7.9+0.7+7.1+0.3+7.6

Next day

+13.3-1.0+14.2-0.0+13.3

+18.9-0.3+19.1+0.6+18.3

+21.3-1.9+23.2-0.6+21.9

+23.6-4.5+28.1-3.5+27.1

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+28.6-7.3+35.9-8.5+37.1

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UpDownMarket · Nifty Microcap 250Sector · Consumer Electronics peers, median of 13Pending

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AI summary

Board approved preferential issue of up to 24 lakh equity shares at Rs. 34 per share (face value Rs. 10) raising up to Rs. 8.16 crore. Allottees are Omnia Appliances (20 lakh shares) and Anadi Investments (4 lakh shares). Separately, promoter Mehboob Alam is selling 18.9 lakh shares (24.30% stake) to a group of acquirers for Rs. 6.43 crore. Post deal, Omnia Appliances and co-acquirers join the promoter group with joint control, triggering a mandatory open offer under SEBI SAST rules. Postal ballot approval pending.

Likely market impact

Change of control and management likely; mandatory open offer to follow; dilutive preferential issue; pending shareholder approval.