CAComrade Appliances543921Preferential allotment

Board approves preferential issue of up to 24,00,000 shares at Rs. 34; promoter signs SPA for 24.30% stake

Preferential issue of up to 24,00,000 equity shares at Rs. 34 each (face value Rs. 10), for cash, up to Rs. 8.16 crore.

By ScoutQuest · Tue 13 Oct 2026, 7:23 PM IST · 3 min read

Preferential Issue Size

up to 24,00,000 equity shares at Rs. 34 each (face value Rs. 10), for cash, up to Rs. 8.16 crore

Proposed Allottees

Omnia Appliances up to 20,00,000 shares; Anadi Investments up to 4,00,000

Promoter Share Sale

Promoter to sell 18,90,000 shares (24.30%) at Rs. 34 under an SPA worth Rs. 6.43 crore

The board of Comrade Appliances Limited met on 13 October 2026 and approved a set of connected proposals: a fresh issue of equity shares to two investors, a share sale by the promoter to a group of acquirers, and agreements that will change who controls the company. Here is what the update sets out.

What the board approved

• Issue and allotment of up to 24,00,000 equity shares of face value Rs. 10 each at an issue price of Rs. 34 per equity share, for cash, for an aggregate amount of up to Rs. 8.16 crore.
• The proposed allottees are Omnia Appliances Private Limited (up to 20,00,000 shares) and Anadi Investments Private Limited (up to 4,00,000 shares), both currently in the Public category.
• The preferential issue is subject to the approval of members of the company and applicable regulatory authorities.
• The board constituted a Preferential Issue Committee to take the necessary actions in connection with the issue and to finalise the relevant documents.
• The board also approved the draft notice of a postal ballot for approval by the members of the resolutions set out in that notice.

The promoter's share sale

• Mr. Mehboob Alam, the promoter, holds 22,83,705 equity shares, representing 29.36% of the paid-up share capital.
• He has entered a Share Purchase Agreement on 13 October 2026 with Omnia Appliances Private Limited, Graphic Promoters and Developers Private Limited, Amaira Estate Advisors LLP and MLJ Aeternum LLP.
• Under it, the acquirers propose to acquire 18,90,000 equity shares, representing 24.30% of the present paid-up share capital, at Rs. 34 per equity share, amounting to a total consideration of Rs. 6.43 crore.
• The stated purpose of the agreement is the acquisition of substantial shares and control over the company.

Change in control and the open offer

• The update states that after the proposed preferential issue and the SPA, Omnia Appliances Private Limited together with the other acquirers will hold a substantial stake and will acquire joint control and management of the company.
• Because of this, they are required to make an open offer under SEBI (SAST) Regulations, 2011.
• Upon completion of the open offer formalities, they will form part of the Promoter & Promoter Group of the company.
• The acquirers had no relationship with the company on the date of entering the SPA; the transaction is stated not to fall within related party transactions, and there is stated to be no potential conflict of interest.

The subscription agreement

• A Shareholders Subscription Agreement was entered into between the company and Omnia Appliances Private Limited to record the terms of the preferential allotment of 20,00,000 equity shares.
• Price and payment: 20,00,000 equity shares at Rs. 34 per share, totalling Rs. 6.8 crore, paid in cash.
• The shares carry a face value of Rs. 10 each and rank pari passu with the existing equity shares.

Points a reader can keep in view

• Two separate routes are involved: fresh shares to be issued by the company, and existing shares to be bought from the promoter.
• Both routes use the same price, Rs. 34 per equity share.
• The composition of the Promoter & Promoter Group is set to change, with the acquirers joining it after the open offer process.
• The preferential issue is subject to member approval and applicable regulatory approvals.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.

About ScoutQuest · Logos provided by Logo.dev