Kaya Limited has informed the Exchange about the receipt of in-principle approval for preferential issue
KAYA · price
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Kaya Limited has received in-principle approval from both BSE (dated July 31, 2025) and NSE for its proposed preferential issue of equity shares. The issue involves 20,90,068 shares at Rs. 358.84 per share, totalling approximately Rs. 75 crore. The shares will be allotted to Axana Estates LLP, a single identified investor. This follows the company's earlier communication dated June 26, 2025 regarding the proposed preferential allotment. The approval is a procedural step before the actual allotment can take place.
This is a positive development as it moves the Rs. 75 crore fundraise closer to completion, bringing fresh equity capital into the company without taking on debt. However, existing shareholders should note that preferential issues dilute their holdings since new shares are being issued at Rs. 358.84 to a specific buyer, and they don't get the chance to participate unless a rights route is used.