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Awaiting price reaction for this filing.
Olatech Solutions' board has approved increasing the authorised share capital from Rs. 6 crore to Rs. 7 crore (adding 10 lakh equity shares of Rs. 10 each). The board also approved issuing up to 7,76,093 equity shares on a preferential basis to two non-promoter allottees (Aseem Satish Kumar and Pargatjot Singh) at Rs. 451 per share (a premium of Rs. 441 over face value). This is not a cash issue — the shares are being allotted in exchange for stakes in four overseas/Indian entities: Code Brew W.L.L., Code Brew Inc., Code Brew Labs FZCO, and Codebrew Innovations Private Limited. An EGM notice has been approved and a scrutinizer has been appointed for the voting process.
This is an acquisition-funded-through-shares deal. Existing shareholders will see dilution of up to 7,76,093 shares (against current capital base), but the consideration is non-cash, meaning the company gets valuable overseas/tech assets without depleting cash. The Rs. 451 issue price (set as per SEBI ICDR rules) is well above face value, so the premium reflects a fair valuation. Watch the EGM outcome for final approval.