Kaya Limited has informed the Exchange about Shareholders meeting
KAYA · price
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Kaya Limited has called an Extraordinary General Meeting (EGM) on July 22, 2025, to seek shareholder approval for issuing up to 20,90,068 equity shares at Rs. 358.84 per share on a preferential basis, aggregating to about Rs. 75 crore. The shares will be allotted to Axana Estates LLP, a non-promoter entity whose ultimate beneficial owners are Mr. Mithun Padam Sacheti, Mr. Siddhartha Sacheti, Mr. Yash Siddhartha Sacheti, and Mr. Arpit Khandelwal. Of the proceeds, up to Rs. 58 crore is earmarked for expansion (new clinics, relocation, renovation, and new machines) and up to Rs. 17 crore for general corporate purposes, with utilization targeted by FY27. The issue price of Rs. 358.84 is higher than the floor price of Rs. 341.97 derived under SEBI ICDR pricing rules, and post-issue promoter holding will dilute from 59.64% to 51.43%, while Axana Estates LLP will hold 13.76%. E-voting will be open from July 19 to July 21, 2025, with the cut-off date set as July 15, 2025.
This preferential allotment will raise around Rs. 75 crore to fund the company's clinic expansion plans, supporting future growth. However, existing shareholders will see their stake diluted — promoter holding will fall from 59.64% to 51.43%, and overall equity will expand by nearly 16%. The issue price is at a premium to floor price, which is positive, but the stock may face some short-term dilution pressure.