Board approves Rs 50 lakh preferential issue to promoter group
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The board approved up to 500,000 equity shares at Rs 10 each, raising up to Rs 50 lakh from four promoter-group members. Shareholders will vote on November 23, 2026, followed by BSE approval. Proceeds will support working capital and general corporate needs. Promoter holding will rise from 27.36% to 31.29%, while public holding falls from 72.64% to 68.71%. The shares will be locked in for 18 months, with no control change.
The raise supports business funding, but existing holders face dilution as promoter ownership rises. Shareholder and BSE approvals are still pending.