Span Divergent Limited Outcome of Board Meeting held on January 23, 2026
Awaiting price reaction for this filing.
Span Divergent Ltd's board, at its meeting on January 23, 2026, 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 fixed at Rs. 32.16 per share (face value Rs. 10), taking the total deal size to roughly Rs. 5.79 crore in cash. After allotment, the investor will hold about 24.80% of the company, meaning this is a substantial change in the shareholder base. An Extra-Ordinary General Meeting has been scheduled for February 20, 2026 (via video conferencing) to seek shareholder approval for the preferential issue. The issue price is based on a valuation report dated January 23, 2026 from Atharva Valuation (OPC) Pvt Ltd. Mitesh Rana & Co. has been appointed as scrutinizer for the e-voting process.
This preferential allotment will result in significant dilution for existing shareholders, with one individual ending up with nearly a quarter of the company. Existing shareholders should watch the EGM outcome on February 20, 2026 closely, as approval is needed before shares are issued.