Span Divergent Limited - Disclosure under Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 in relation to the allotment ....
Awaiting price reaction for this filing.
Span Divergent Ltd has allotted 18,01,481 equity shares of Rs. 10 face value on a preferential basis to Mr. Neev Nirav Jogani, a non-promoter individual. The shares were issued at Rs. 32.16 each, which includes a premium of Rs. 22.16 over the face value, bringing in approximately Rs. 5.79 crores to the company. After this allotment, the allottee's shareholding stands at 24.80% of the company's paid-up equity share capital, which has increased from 54,61,747 to 72,63,228 shares. The preferential issue was approved by shareholders at an EGM held on 20th February 2026. The company will now apply to stock exchanges for listing and trading approval of the newly allotted shares.
The allotment dilutes existing shareholders by about 33% (the new shares represent roughly a third of the expanded capital) and gives a single non-promoter individual nearly a 25% stake. For the stock, this means a meaningful change in the shareholder base, though the Rs. 5.79 crore infusion is relatively small for a listed entity.