Mittal Life Style Limited has informed the Exchange regarding Outcome of Board Meeting held on March 23, 2026.
MITTAL · price
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Mittal Life Style Limited's board, at its meeting on March 23, 2026, approved a preferential issue of up to 99,225 equity shares of face value Re. 1 each at an issue price of Rs. 1.20 per share (including a 20 paise premium), aggregating to about Rs. 1.19 lakhs. The shares will be allotted on a private placement basis to a single investor, Ms. Priya Chidurala, subject to shareholder approval via postal ballot and other regulatory clearances. The company has appointed Mr. Arun Dash as the scrutinizer for the postal ballot process. The issue price is in line with the floor price requirements under SEBI ICDR Regulations, and the allotted shares will be subject to applicable lock-in.
The fundraising size is very small (around Rs. 1.19 lakhs) and involves only one individual allottee, so the dilution and capital impact for existing shareholders is negligible. This is a routine, minor capital-raising step rather than a meaningful equity dilution event, and is unlikely to materially affect the stock price.