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Awaiting price reaction for this filing.
Sanmitra Commercial Limited has issued a corrigendum to the notice of its 41st Annual General Meeting scheduled for 24 September 2025 at 12:00 PM via video conferencing. The Board approved a reallocation of 3,12,500 equity shares among three allottees (Manoj Jain, Leena Harshal Agrawal, Amit Ashok Todkari) – the total remains unchanged but individual allotments were revised at the request of the proposed allottees. The broader AGM item 6 seeks shareholder approval for a preferential issue of up to 1,68,08,201 equity shares at Rs. 40 per share to 61 non-promoter allottees, raising about Rs. 67.23 crore to strengthen the company's capital base. Notably, Mr. Ankit Jalan and Mr. Anuj Jalan along with PACs will trigger an open offer and become the new promoters of the company, while the existing promoter Prakash Bhoorchand Shah will be reclassified as public shareholder post the open offer process. Post-issue shareholding of new promoter group will be 69.73% (from existing 43.12%), with total paid-up capital expanding from 11 lakh shares to 5.76 crore shares.
This is a major change-of-control event that will likely cause significant stock price volatility and dilution for existing shareholders; retail investors should track the open offer price and timeline closely once the Jalan family triggers the SEBI Takeover Code process.