Disclosure received under Reg. 29(2) of SEBI (SAST) Regulation, 2011 as received from Mr. Ashish Patel in connection with the allotment of equity shares on a preferential basis via conversion ....
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Promoter Mr. Ashish P. Patel of Radhe Developers (India) Limited has been allotted 2,51,39,620 equity shares (face value Rs. 1 each) through a preferential allotment by converting his unsecured loans into equity. Following this allotment, his stake in the company has increased from 20.16% (10,55,95,940 shares) to 23.82% (13,07,35,560 shares), a rise of about 3.66 percentage points. As a result of this preferential issue, the company's total equity share capital has expanded from Rs. 52.37 crore to Rs. 54.89 crore. The date of acquisition was February 2, 2026. This loan-to-equity conversion reduces the company's debt burden on its books while increasing the promoter's ownership in the business.
Positive for shareholders — the transaction strengthens the company's balance sheet by converting promoter debt into equity and signals promoter confidence in the business. However, existing shareholders face dilution of roughly 4.8% as the share count expands from 52.37 crore to 54.89 crore shares.