Span Divergent Limited - Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 in relation to ....
Awaiting price reaction for this filing.
Span Divergent Ltd has allotted 18,01,481 equity shares (face value Rs. 10 each) on a preferential basis to Mr. Neev Nirav Jogani, a non-promoter individual, at Rs. 32.16 per share (including a premium of Rs. 22.16). The total amount raised is approximately Rs. 5.79 crore. Following this allotment, the allottee will hold 24.80% of the company's post-issue share capital. The company's paid-up equity capital rises from 54,61,747 shares (Rs. 5.46 crore) to 72,63,228 shares (Rs. 7.26 crore). The board approved this allotment on 28th March 2026, following shareholder approval at an EGM held on 20th February 2026. The company will now apply to BSE for listing and trading approval of the newly allotted shares.
The preferential allotment brings in roughly Rs. 5.79 crore from a single non-promoter investor who ends up with nearly a quarter of the company, which is a significant dilution for existing shareholders. The issue price is at a premium to face value, but without market price context, the fairness of the pricing is unclear. Shareholders should watch for the post-listing price reaction once the new shares trade.