New promoters to buy 24.37% stake; company plans Rs 30 crore capital raise

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Price reaction

Awaiting price reaction for this filing.

AI summary

On 23 October 2026, the board approved four new promoters buying 10,00,463 shares, equal to 24.37% of current capital, which triggers an open offer. The company also plans up to 2.45 crore shares at Rs 2 each for Rs 4.90 crore and 12.55 crore convertible warrants at Rs 2 each for Rs 25.10 crore. Authorised capital would rise from Rs 4.50 crore to Rs 16.50 crore.

Likely market impact

Control may change after completion. New capital may aid growth, but the large share issue could reduce existing holders' ownership.