The board of Directors of Virat Industries Limited has approved the change in Name of the Company from "Virat Industries Limited" to "Brahm Well-being & Lifestyle Corporation Limited".
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The board of Virat Industries Ltd approved two major decisions: (1) Allotment of 95,99,999 equity shares at Rs. 104 each (including Rs. 94 premium) via preferential issue to Mr. Bhavook Chandraprakash Tripathi, raising the paid-up capital from Rs. 4.92 crore (49.23 lakh shares) to Rs. 14.52 crore (1.45 crore shares) — nearly a 3x capital expansion. (2) Change of company name from 'Virat Industries Limited' to 'Brahm Well-being & Lifestyle Corporation Limited'. Following the allotment, Mr. Tripathi will be classified as a Promoter and will exercise control over the company. Both actions require shareholder, MCA, and other statutory approvals.
Existing shareholders face significant dilution (roughly 66% of expanded capital goes to the new promoter). The rebranding hints at a shift toward the wellness/lifestyle sector, and the change of control could bring strategic direction changes.