Span Divergent Limited Announcement under Regulation 30 (LODR) for Raising of Funds
Awaiting price reaction for this filing.
The board of Span Divergent Ltd approved issuing 18,01,481 equity shares on a preferential basis to a single non-promoter allottee, Mr. Neev Nirav Jogani. The issue price is Rs. 32.16 per share (face value Rs. 10), translating to a total raise of approximately Rs. 5.79 crore. Post-allotment, the investor will hold 24.80% of the company's share capital. An Extra-Ordinary General Meeting has been scheduled for 20th February 2026 to seek shareholder approval for the preferential issue. Mitesh Rana of Mitesh Rana & Co. has been appointed as scrutinizer for the e-voting process.
Existing shareholders will face dilution as the new investor will end up holding nearly a quarter of the company after allotment. The shares are being issued at a premium to face value, and shareholder approval will be the next key milestone before the issue can proceed.