Outcome of the Meeting of the Board of Directors of Bluegod Entertainment Limited held on Today i.e. Saturday, 28th February, 2026
Awaiting price reaction for this filing.
Bluegod Entertainment's board, which met on 28th February 2026, approved a Rights Issue of 10,54,24,650 fully paid-up equity shares at Rs. 3.00 each (including Rs. 2.00 premium), aiming to raise up to Rs. 31.63 crores. The entitlement ratio is 9 shares for every 47 shares held, with the record date set for 6th March 2026 and the issue window running from 12th March to 19th March 2026. On full subscription, total outstanding shares will expand from about 55.06 crore to about 65.60 crore. Separately, the board executed a Term Sheet with Absolute Legends Sports Private Limited to acquire all intellectual property and IP rights of the Legends League Cricket for commercialization and exploitation. However, the company decided not to go ahead with acquiring or operating a team in the Legends Cricket League, reversing its earlier October 2025 announcement on that front.
Existing shareholders will receive Rights Entitlements and must pay the full Rs. 3.00 per share on application, which is dilutive but at a modest premium. Strategically, the company is pivoting from team ownership to acquiring the underlying league IP rights, which could change its revenue model in the cricket business.