The Board considered allotment of 2056965 Equity Shares of Rs. 10 each at Rs. 29/- per share on preferential basis through private placement
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The Board of Ind Agiv Commerce approved the allotment of 20,56,965 equity shares of Rs. 10 each at Rs. 29 per share (including Rs. 19 premium) on a preferential basis through private placement. Out of these, 1,00,000 fresh shares were issued to a non-promoter (Mr. Chiranjeev Milkha Singh) for Rs. 29 lakh, while 19,56,965 shares were allotted against conversion of loans from promoter and non-promoters, totaling Rs. 5.67 crore. The earlier resolution dated May 6, 2025 was revoked and revised. The paid-up equity capital rose to Rs. 3.06 crore comprising 30,56,965 shares. Separately, 7,05,000 shares (Rs. 2.04 crore) were not allotted because two allottees (Mr. Mukesh Belani and Mr. V.B. Rupani) did not pay during the offer period, and 2,38,000 shares from Ad Techno Japan INC were not converted, remaining as outstanding loans on the balance sheet.
The preferential allotment is small relative to total capital and mostly represents loan-to-equity conversion rather than fresh fundraising, meaning minimal cash inflow. Existing shareholders will see dilution as the share count rises by roughly 205%. The failure of some allottees to pay could be a minor red flag on counterparty reliability, but the Rs. 2.73 crore unpaid amount stays on the books rather than being lost.