Inadvertent error in the Postal Ballot notice dated 20th November, 2025
Awaiting price reaction for this filing.
Harmony Capital Services has informed the stock exchange about a mistake in its postal ballot notice dated 20 November 2025, which dealt with issuing equity shares on a preferential basis. The original notice wrongly said promoters held 21,91,760 shares (73.04%) before the issue and would hold 76,91,760 shares (63.43%) after the issue. The corrected figures show that promoters actually held zero shares before the issue, with 100% of the company (30,00,900 shares) held by the public. After the preferential issue, the proposed allottees — Rajesh Ghosh and M/S Dorni Vinimoy Pvt Ltd — would hold 55,00,000 shares (45.35%), with the public holding 66,26,900 shares (54.65%). These acquirers will trigger a mandatory open offer under SEBI takeover rules and become the new promoters, while the existing promoters will be reclassified as public shareholders.
This correction reveals that the transaction is effectively a complete change of control, with new promoters taking over the company via a preferential allotment and open offer. Shareholders should expect an open offer to be launched soon and a shift in management/control of the company.