The Board Approved issuing 37,75,000 Equity shares on 14th May 2025 which was later approved by shareholder and BSE. However 6,67,500 shares could not be alloted within 15 days of BSE approval ....
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The Board of Hari Govind International Ltd has approved seeking shareholder ratification for the delayed allotment of 6,67,500 equity shares (face value ₹10 each) issued on a preferential basis to four non-promoter allottees. Originally, on May 14, 2025, the Board had approved issuing 37,75,000 equity shares, which received shareholder approval on June 13, 2025 and BSE in-principal approval on July 30, 2025. However, 6,67,500 of those shares could not be allotted within the 15-day SEBI deadline due to a banking transaction glitch on August 15 (a national holiday), causing a 2-day delay. An Extra Ordinary General Meeting has been scheduled for November 3, 2025 to ratify the allotment. The shares were issued at ₹10 per share (at par), to four allottees including Kavicharla Kasi Ratnam (3,00,000 shares) and Kavicherla A S V Ramana (2,50,000 shares).
The 6,67,500 shares represent about 7.83% post-issue shareholding being handed to non-promoters at par value. Shareholders should note the procedural delay in allotment and the upcoming EGM on November 3, 2025 where their ratification is required; failure to ratify could complicate the share issuance.