The increase in the Authorized Share Capital of the Company from Rs. 17,10,00,000 (Rupees Seventeen Crores Ten Lakhs only) to Rs. 18,10,00,000 (Rupees Eighteen Crores Ten Lakhs only). ....
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National Oxygen Ltd's board approved increasing the company's authorized share capital from Rs. 17.10 crore to Rs. 18.10 crore. The board also approved issuing 9,50,000 equity shares at Rs. 93.80 per share (including Rs. 83.80 premium) to Saraf Housing Development Private Limited, a promoter group company, for a total consideration of Rs. 8.91 crore. The issue price is not less than the Rs. 73.80 minimum price certified by a registered valuer under SEBI ICDR Regulations. An EGM has been scheduled for May 28, 2026 to seek shareholder approval for this preferential allotment.
This preferential allotment to the promoter group will dilute existing shareholders' stakes. The issue price of Rs. 93.80 is above the minimum regulatory price, suggesting no steep discount to promoters. However, issuance to insiders typically signals potential future plans that may or may not benefit minority shareholders.