Span Divergent Limited - Preferential Issue of Equity Shares of the Company for Consideration in cash
Awaiting price reaction for this filing.
Span Divergent Limited received shareholder approval at an Extraordinary General Meeting held on February 20, 2026 for a preferential issue of 18,01,481 equity shares (face value Rs. 10 each) at Rs. 32.16 per share, for a total consideration of approximately Rs. 5.79 crore. The shares are being allotted to a single investor, Mr. Neev Nirav Jogani, who will hold 24.80% of the company post-allotment. The issue price was determined based on a valuation report dated January 23, 2026 by Atharva Valuation (OPC) Private Limited. The special resolution was passed with 97.35% of votes cast in favor, reflecting strong shareholder support.
The preferential allotment to a single individual investor giving them a 24.80% stake signals a significant change in the company's ownership structure. Existing shareholders will see their holdings diluted by roughly one-quarter, and the incoming investor will have substantial influence over company decisions going forward.