The Board in its meeting approved the following: 1. Issue of equity shares as preferential issue 2. Relevant date for the issue 3. Appointment of Registered Valuer for the issue
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The board approved a preferential issue of 30,82,000 equity shares (face value Rs. 10 each) to 33 identified allottees, with the final price yet to be determined by a newly appointed Registered Valuer (relevant date set as August 29, 2025). The allottees include individuals and E Wizdom Private Limited, with the largest allocations going to Gurpreet Singh Pascricha (4.85 lakh shares) and E Wizdom (4.85 lakh shares), taking post-issue holding to 32.70% for the group. The board also approved increasing authorised share capital from Rs. 12 crore to Rs. 15 crore (1.20 crore to 1.50 crore equity shares). Additionally, the company plans to alter its Main Objects to broaden business activities across industrial/medical gases, IT/software, heat exchangers, solar power, waste management, digital marketing and hospitality, and adopt a new set of Articles of Association aligned with the Companies Act, 2013. All these changes, including the preferential issue, are subject to shareholder approval.
The preferential issue will dilute existing shareholders significantly, with the 33 allottees collectively holding about 32.7% post-allotment. Investors should watch for the final issue price from the Registered Valuer report and the shareholder meeting outcome, as they will determine the equity dilution cost and any near-term price pressure.