Pursuant to Regulation 30 read with other applicable Regulation of the SEBI (LODR) Regulations 2015, Company inter alia, has, considered and approved the following: - 1. Issuance and ....
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Super Crop Safe Ltd's board approved a preferential allotment of up to 1,17,44,731 equity shares (face value Rs. 2) at Rs. 13 per share, aggregating up to Rs. 15.27 crore, to two non-promoter investors — Wherrelz IT Solutions Limited and Voltrix INC. The shares will be issued on a consideration other than cash basis (likely against acquisition), subject to shareholder approval at an EGM scheduled for January 18, 2026. Post-issue, the two allottees together will hold about 15.45% of the company. Additionally, Mr. Ishwarbhai B Patel ceased as Whole-Time Director and CEO due to his death (effective August 27, 2025), and Mr. Satish I Patel has been appointed in his place for a 3-year term ending December 18, 2028. Mr. Satish I Patel is the paternal uncle of the existing Managing Director & CFO, Mr. Nishant Patel.
The preferential issue will dilute existing shareholders by roughly 15% and brings in new non-promoter investors, likely tied to an acquisition since consideration is non-cash. The leadership change is a continuity move as the new WTD comes from the promoter family. Shareholders should watch the EGM outcome and any related acquisition announcement for further clarity on how the funds/assets are being utilized.