Span Divergent Limited Announcement under Regulation 30(LODR) for Issue of Securities
Awaiting price reaction for this filing.
Span Divergent Ltd's Board has approved issuing 18,01,481 equity shares on a preferential basis at Rs. 32.16 per share (face value Rs. 10) to a single identified non-promoter allottee, Mr. Neev Nirav Jogani. The total issue size works out to roughly Rs. 5.79 crore. After allotment, Mr. Jogani will hold about 24.80% of the company, making him a sizeable shareholder. The Board has also fixed an Extra-Ordinary General Meeting on 20th February 2026 to seek shareholder approval for the issue. The issue price has been fixed per SEBI ICDR regulations based on a valuation report dated 23rd January 2026.
Existing shareholders will see meaningful dilution of about 24.8% as a single new investor picks up a significant stake. While the issue brings in fresh capital, the concentrated entry of one non-promoter individual at a price above face value could be viewed as a governance and control shift, and may weigh on sentiment until the EGM in February.