BSEHarmony Capital Service LtdMinimalNeutral
Announced Fri, 27 Mar · 15:46 IST

Inadvertent error in the Postal Ballot notice dated 20th November, 2025

Price reaction · full curve

Awaiting price reaction for this filing.

AI summary

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.

Likely market impact

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.