The Board of Directors of the Company at its meeting held today i.e, on Friday, March 20, 2026 have inter alia approved the following: a) Issue of up to 9,50,000 (Nine Lakh Fifty Thousand) ....
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National Oxygen Ltd's board, at its meeting on March 20, 2026, approved the issue of up to 9,50,000 equity shares with a face value of Rs. 10 each on a preferential basis. The shares will be allotted to Saraf Housing Development Private Limited, a company belonging to the promoter group, at a price not less than the floor price determined under SEBI ICDR Regulations. A registered valuer (CA S Dehaleesan) has been appointed to determine the issue price, and a separate bank account has been opened for the transaction. The total rupee size of the issue will depend on the final price fixed by the valuer. The board meeting lasted from 4:00 PM to 4:30 PM.
This allotment to a promoter group entity indicates promoter confidence and a capital infusion into the company, but it will dilute existing shareholders' stake. The actual financial impact on the stock will hinge on the final issue price set by the registered valuer.