Please Find Attached Certificate under Regulation 163(2) of the SEBI (ICDR) Reg, 2018
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Awaiting price reaction for this filing.
Desh Rakshak Aushdhalaya Ltd, a Haridwar-based maker of ayurvedic and herbal products established in 1901 and listed on BSE (scrip code 531521), has filed a Practicing Company Secretary certificate regarding a proposed preferential issue of 12,60,000 equity shares of Rs. 10 face value each. Since the shares are infrequently traded on BSE and the issue will allot more than 5% of the post-issue share capital, the minimum issue price has been independently valued at Rs. 22 per share by registered valuer Arpit Baslas, with the relevant date set as April 29, 2025. The four proposed allottees — Navneet Chaturvedi, Ruchika Chaturvedi, Victoria Rao Pippal and Rashmi Kumari — are non-promoters who do not currently hold any shares in the company. The company will now seek shareholder approval at an Extra-Ordinary General Meeting before proceeding with the allotment.
If approved, the preferential allotment will expand the share base and bring in fresh capital, but it will also dilute existing shareholders' ownership since shares are being issued to new non-promoter allottees. The Rs. 22 issue price is notably above the Rs. 10 face value, suggesting the company is raising capital at a reasonable premium.