Span Divergent Limited - Notice of Extra Ordinary General Meeting held on Friday, February 20, 2026
Awaiting price reaction for this filing.
Span Divergent Limited (formerly Span Diagnostics Ltd), BSE Scrip Code 524727, has called an Extra Ordinary General Meeting on Friday, 20th February 2026 at 11:00 AM via Video Conferencing/Other Audio-Visual Means. The EGM will consider a Special Resolution to issue up to 18,01,481 equity shares of face value Rs. 10 each at an issue price of Rs. 32.16 per share (including a premium of Rs. 22.16), aggregating to about Rs. 5.79 crores. All the shares are proposed to be allotted on a preferential/private placement basis to a single non-promoter individual, Mr. Neev Nirav Jogani, who would end up holding 24.80% of the post-issue equity share capital. The Board approved the proposal on 23rd January 2026, with the relevant date for floor price calculation under SEBI ICDR Regulations being 21st January 2026. Remote e-voting window is open from 17th February (9:00 AM) to 19th February (5:00 PM), with cut-off date 13th February 2026.
If approved, existing shareholders will see dilution of nearly 24.80% as a single new non-promoter investor comes in, which is a material ownership change for a small-cap company. On the positive side, the company will raise approximately Rs. 5.79 crores; the stock may react to the identity of the allotteee, the pricing (which is at floor price), and the deployment of funds once announced.