ENCLOSED HEREWITH REVISE BOARD MEETING OUTCOME DATED 05/01/2026
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The board has approved a preferential allotment of 48,50,000 equity shares at Rs. 10 per share (face value Rs. 10), raising up to Rs. 4.85 crore. All five proposed allottees are non-promoters, with Anil Babubhai Mehta taking the largest chunk at 15 lakh shares (Rs. 1.5 crore). To accommodate the fresh issue, the company plans to raise its authorized capital from Rs. 8 crore to Rs. 12 crore, subject to shareholder approval. An extraordinary general meeting has been rescheduled for February 9, 2026. Additionally, the company has decided to shift its registered office from Madhya Pradesh to Maharashtra.
The issue is priced at face value (no premium), so existing shareholders face some dilution (~7-8% post-issue depending on current base) without any valuation uplift. The capital raise is small (Rs. 4.85 crore) and brings in new non-promoter investors, which could be mildly positive for capital adequacy, but the registered office shift and modest size suggest this is a small-cap NBFC preparing for incremental growth rather than a transformative event.