Announced Tue, 1 Sept · 23:01 IST
Board okays preferential share issue to 8 banks under debt restructuring plan
SADBHAV · price
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Price reaction · full curve 14 horizons · vs prior close
+0.2%1-day move
₹8.03
prior close
₹8.43
base price
After-mkt
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AI summary
Board approved preferential issue of up to 22.03 crore equity shares at Rs 9.34 each to 8 lenders (Axis, BOI, ICICI, IDBI, Karur Vysya, PNB, SBI, Union Bank) under the RBI resolution plan. Separately, up to 7.56 crore shares at Rs 9 each to promoter Shashin Patel via conversion of Rs 68 crore unsecured loan. 37th AGM set for September 30, 2026.
Likely market impact
Banks taking equity stakes signals debt restructuring progress but also share dilution. Resolution plan implementation is a positive for long-term recovery.