Outcome of the Board Meeting held on March 23, 2026, under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ....
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The board of Gconnect Logitech and Supply Chain approved raising about ₹11.87 crore by issuing up to 64,83,000 equity shares at ₹18.31 per share (including an ₹8.31 premium over the ₹10 face value) on a preferential basis to 17 selected allottees. Promoters and promoter group members (including Managing Director Jigar Sheth and his family) will subscribe to a large portion, taking their combined holding from about 40.27% to roughly 78.22% post-issue. The board also approved raising the authorised share capital from ₹4 crore to ₹11 crore and has called an Extra Ordinary General Meeting on April 22, 2026 to seek shareholder approval. The issue is subject to shareholder and regulatory clearances under SEBI ICDR regulations.
This is a promoter-heavy capital infusion that will dilute existing public shareholders significantly, with promoter + promoter group holding rising from about 40% to 78%. Short-term share price may come under pressure due to dilution, while the ₹11.87 crore raised could fund the company's working capital or expansion plans once shareholder approval is secured at the EGM.