Outcome of Independent Directors meeting held on 13th February 2026
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The Committee of Independent Directors of Tejassvi Aaharam Ltd, at its meeting on 13th February 2026, approved a proposal for a preferential allotment of 5,11,62,204 equity shares at Rs. 10 per share to non-promoter allottees who will be reclassified as promoters. This allotment will trigger a change in control of the company and will require an Open Offer under SEBI Takeover Regulations. The committee noted that the fair value of the company's equity shares was determined as nil by the valuer, so no control premium was applied despite the change in control. Both independent directors assented to the proposal, deeming the issue price and allotment fair and reasonable.
This signals a likely change in ownership and control of the company, which existing shareholders should monitor closely as it could affect management direction and trigger a mandatory open offer for minority shareholders. The nil fair valuation and Rs. 10 issue price may raise concerns about pricing fairness for existing equity holders.