Revised Outcome of Board Meeting
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Awaiting price reaction for this filing.
Mac Hotels Ltd has filed a revised board outcome (originally dated Feb 19, 2026) correcting one allottee name at Sr. No. 20 from 'Asha Lath' to 'Ujin Pharma Limited' in its preferential issue list. The board has approved raising up to Rs. 54.76 crore via a preferential issue: 48,00,500 equity shares at Rs. 45 each (Rs. 35 premium over face value of Rs. 10), aggregating Rs. 21.60 crore, plus 73,68,712 convertible warrants at Rs. 45 each (25% upfront, convertible within 18 months), aggregating Rs. 33.16 crore, to be allotted to 65 identified investors including promoters. Authorized share capital will be doubled from Rs. 9 crore to Rs. 18 crore, subject to shareholder approval at an EGM on March 21, 2026. Additionally, the board provisionally approved acquiring ~25% in Herald Technocraft Private Limited (a chemicals company with FY25 turnover of ~Rs. 1.13 crore) and added chemicals/diamonds trading to its main objects clause, signaling a diversification move away from the core hospitality business.
This preferential issue will dilute promoter holding from 61.19% to 56.82% on a fully diluted basis while injecting fresh capital. The strategic pivot into chemicals through the HTPL acquisition and amended main objects clause represents a significant business direction change that existing shareholders should weigh carefully, as it shifts the company's risk and growth profile away from pure hospitality.