Enclosed herewith Notice of Extra-Ordinary General Meeting of Yash Trading and Finance Limited
Price
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Awaiting price reaction for this filing.
The company has called an EGM on May 15, 2025 to seek shareholder approval on 8 major items. The headline item is a preferential issue of 70 lakh equity shares at Rs. 12 each (face value Rs. 10, Rs. 2 premium) to non-promoters, raising Rs. 8.40 crore. Of these, 43 lakh shares (about 43% of the expanded share capital) are being allotted to 5 individuals (Vasantkumar Mangroliya, Madhu Vekaria, Vinubhai Vekaria, Manan Trivedi, and Pavankumar Trivedi), which qualifies as a change of management and triggers a mandatory open offer under SEBI Takeover Regulations. Post open offer, these 5 allottees will be reclassified as promoters. Other items include increasing authorized share capital from Rs. 3 crore to Rs. 10 crore (30 lakh to 1 crore shares), regularization of 4 Independent Directors, and appointment of Mr. Vishvajitsinh Dilipsinh Jadeja as Managing Director for 3 years effective March 10, 2025.
Existing shareholders face significant dilution and a change-of-management scenario — the new promoter group will hold ~43% of expanded capital after the open offer, and shareholders will likely receive an open offer to tender shares at a SEBI-determined price. The Rs. 8.40 crore preferential issue at a small premium may be viewed as a low-cost acquisition entry for the incoming promoter group.