Board approves preferential share issue to lenders and promoter under debt restructuring
SADBHAV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sadbhav Engineering's board approved issuing up to 22.03 crore equity shares on a preferential basis as part of a lender-approved resolution plan under RBI framework. This includes 14.48 crore shares at Rs 9.34 each to eight banks (Axis, BOI, ICICI, IDBI, Karur Vysya, PNB, SBI, Union Bank) converting debt into equity, and 7.56 crore shares at Rs 9 each to promoter Shashin Patel against conversion of a Rs 68 crore unsecured loan. Approvals needed from shareholders and regulators. The 37th AGM is scheduled for September 30, 2026.
Significant equity dilution for existing shareholders as lenders and promoter take equity stakes under restructuring. Signals balance sheet repair but reduces per-share value.