Revised outcome of board meeting held on 07th August 2025.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The company has filed a revised outcome of its 7 August 2025 board meeting, correcting only clerical errors in the earlier disclosure with no change to the actual decision. It plans a preferential issue of up to 4,86,67,850 equity shares (face value Rs. 10) at Rs. 20 per share, raising up to Rs. 97.34 crore. All shares are being allotted exclusively to non-promoter investors, with a long list of more than 70 allottees led by Jitendra Rasiklal Sanghavi and Hitesh Natwarlal Kawa (54 lakh shares each) and Isat Solutions Pvt Ltd (50 lakh shares). After allotment, these non-promoter allottees will together hold about 29.66% of the expanded share capital. No promoter contribution is mentioned in this tranche.
Existing shareholders face notable equity dilution of roughly 29-30% on a fully allotted basis, and the absence of any promoter participation in the issue may be viewed negatively by the market. Retail investors should watch for the issue price relative to the prevailing market price and the stated purpose of fund usage in follow-up filings.