Allotment of 2,51,39,620 (Two Crores Fifty One Lakh Thirty Nine Thousand Six Hundred Twenty) Equity Shares of the face value of Rs. 1/- (Rs. One only) each fully paid up at price Rs. 2.55/- ....
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Radhe Developers India Ltd's Board, on February 2, 2026, approved the allotment of 2,51,39,620 equity shares at Rs. 2.55 per share (face value Rs. 1) to Mr. Ashish P. Patel, the Promoter and Managing Director. These shares were issued on a preferential basis against the conversion of an unsecured loan of Rs. 6.41 crores owed to him by the company. The allotment was made under Chapter V of the SEBI ICDR Regulations, 2018, and the new shares will rank equally with existing equity shares.
This is a debt-to-equity swap that reduces the company's liabilities but significantly dilutes existing shareholders, as over 2.51 crore new shares are being issued. Promoter Ashish P. Patel's stake in the company will increase substantially, strengthening his control while signaling confidence in the business.