Please find enclosed the Intimation for Fund Raising.
Price
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Awaiting price reaction for this filing.
The Board approved raising up to ₹50.15 Cr by issuing 10,15,182 equity shares on a preferential basis at ₹494 per share (face value ₹10, premium of ₹484). All allottees are non-promoters, with India Emerging Giants Fund Limited and Surya Jagdishchand Gorji being the largest recipients at 4.61% stake each, and the total post-issue dilution will be 11.55%. An EGM is scheduled for 2nd March 2026 to seek shareholder approval for the issue. For Q3 FY26 (quarter ended 31 Dec 2025), revenue from operations was ₹47.53 Cr, down sequentially from ₹55.41 Cr in Q2 FY26, while net profit slipped to ₹4.76 Cr from ₹5.58 Cr. On a 9-month basis, however, revenue grew ~41% YoY to ₹148.14 Cr and net profit rose ~31% YoY to ₹15.08 Cr. The Board also reappointed M D N & Associates as Internal Auditor for FY 2026-27.
The preferential issue at a steep premium signals confidence in the stock, but 11.55% dilution could pressure share price in the short term. Q3 results showed a sequential dip, though strong 9-month YoY growth in revenue and profit indicates the underlying business remains healthy. Shareholders should watch the EGM outcome on 2nd March 2026 for final approval.