Span Divergent Limited Announcement under Regulation 30(LODR) for Preferential Issue
Awaiting price reaction for this filing.
Span Divergent Ltd's board has approved issuing 18,01,481 equity shares (face value Rs. 10) on a preferential basis at Rs. 32.16 per share to a single non-promoter allottee, Mr. Neev Nirav Jogani. The total issue size is approximately Rs. 5.79 crore in cash, with the price determined as per SEBI ICDR regulations based on an independent valuation report dated 23rd January 2026. Post-allotment, the investor will hold 24.80% of the company's expanded share capital. An Extraordinary General Meeting (EGM) has been scheduled for 20th February 2026 to seek shareholder approval for the preferential issue. The issue is subject to shareholder and regulatory approvals.
Existing shareholders will see dilution as a single new non-promoter investor is set to take a substantial ~25% stake in the company. The size of the acquisition may trigger SEBI's open offer requirements, and shareholders should monitor the EGM outcome and any related disclosures closely.