Corrigendum to the outcome of the Board Meeting dated 27th May 2025 for Allotment of 45,00,000 Equity shares on preferential basis.
Awaiting price reaction for this filing.
Bijoy Hans Ltd has issued a corrigendum correcting its earlier May 27, 2025 board outcome, clarifying that the 45,00,000 equity shares allotted on a preferential basis were issued to Promoter/Members of the Promoter Group, not Non-Promoters as originally stated. The shares were issued at Rs. 12.50 each (face value Rs. 10, premium Rs. 2.50), raising Rs. 5.62 crore in total. Three promoter entities — Kaushal Uttam Shah, U G Patwardhan Services Pvt Ltd, and Agri One India Ventures LLP — received the shares, with all of them holding nil shares before the allotment. As a result, the company's paid-up equity capital has grown 2.5 times, from Rs. 3 crore (30 lakh shares) to Rs. 7.5 crore (75 lakh shares). The filing explicitly states that this allotment will result in a change in control of the company.
This is effectively a change-of-control transaction — existing public shareholders face significant dilution (their stake roughly halves), and new promoters now hold over 60% combined (with two allottees alone holding 24.4% each post-issue). Investors should treat this as a major corporate event that reshapes ownership and may affect stock price and governance going forward.