Outcome of Board Meeting
Price
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The Board of Concord Control Systems, at its meeting on November 25, 2025, approved two preferential equity issues totalling about Rs. 55.26 crore. The first is an issue of up to 2,38,500 equity shares at Rs. 2,100 per share (face value Rs. 10, premium Rs. 2,090), aggregating Rs. 50.085 crore, to non-promoter investors — Sageone-Flagship Growth OE Fund (1,43,000 shares), Sanshi Fund-1 (71,500 shares) and Mr. Ashish Rameshchandra Kacholia (24,000 shares). The second is an issue of 24,662 shares at the same Rs. 2,100 price, worth Rs. 5.179 crore, to Mr. Krishan Kumar Agarwal as non-cash consideration for acquiring a 7.73% stake (17,691 shares) in Progota India Private Limited. An Extra-Ordinary General Meeting has been scheduled for December 20, 2025 to seek shareholder approval. The issue price of Rs. 2,100 is stated to be higher than the SEBI ICDR minimum price benchmark.
Existing shareholders will face dilution of roughly 2.6% from the two issues combined, but the company is raising capital at a steep premium to face value and attracting well-known non-promoter investors, including a high-profile fund and investor Ashish Kacholia. The share-based acquisition also expands the company's footprint into Progota India without a cash outflow, though the deal remains subject to shareholder and regulatory approvals.