Revised Ouctome of Board Meeting held today i.e., February 16, 2026
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Awaiting price reaction for this filing.
The Board of Leading Leasing Finance and Investment Company approved increasing the Authorised Share Capital from Rs 60 crore to Rs 115 crore (divided into 115 crore equity shares of Re 1 each), subject to shareholder approval. The Board also approved converting existing unsecured loans from non-promoter lenders into equity by issuing 42,01,25,660 equity shares at Rs 5 each (Rs 1 face value + Rs 4 premium) to two non-promoter allottees. Additionally, a fresh preferential allotment of 5,00,00,000 equity shares at Rs 5 each was approved for four allottees. The move will expand the company's share count from about 21 lakh shares pre-issue to roughly 47 crore shares post-issue. An Extra-Ordinary General Meeting has been scheduled for March 18, 2026 to seek shareholder approval for all these items.
Existing shareholders will face massive equity dilution (from ~21 lakh to ~47 crore shares, a ~220x expansion), which could put short-term pressure on the stock price. However, converting unsecured loans into equity reduces the company's debt burden and may strengthen its balance sheet in the long run.