The board of Directors in the meeting held on 23rd May, 2025 has allotted 95,99,999 equity shares. The outcome has been attached herewith.
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The board of Virat Industries approved the allotment of 95,99,999 equity shares at Rs. 104 each (face value Rs. 10 plus Rs. 94 premium) to Mr. Bhavook Chandraprakash Tripathi through a preferential allotment. This nearly triples the paid-up equity capital from Rs. 4.92 crore (49.23 lakh shares) to Rs. 14.52 crore (1.45 crore shares). Post-allotment, Mr. Tripathi will be classified as a Promoter, indicating a change in control of the company. In a separate decision, the board also approved renaming the company to 'Brahm Well-being & Lifestyle Corporation Limited', subject to shareholder, MCA and other statutory approvals.
Existing shareholders face significant dilution, with their stake shrinking to roughly one-third of the enlarged capital base, and there is an effective change of promoter/control. The name change suggests a strategic pivot toward the well-being and lifestyle sector, which could influence the stock's perception and trading theme.