CAComrade Appliances543921Preferential allotment

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

Board approves a preferential issue of up to 24,00,000 equity shares at Rs. 34/- each, face value Rs. 10/-, for cash, aggregating up to Rs. 8.16 crore.

By ScoutQuest · Tue 13 Oct 2026, 7:09 PM IST · 3 min read

Preferential Issue Size

up to 24,00,000 equity shares at Rs. 34/- each, face value Rs. 10/-

Preferential Issue Aggregate Amount

up to Rs. 8.16 crore

Promoter Share Sale Agreement

18,90,000 shares (24.30%) at Rs. 34/- each for Rs. 6.43 crore

On October 13, 2026, the board of Comrade Appliances Limited approved a preferential issue, and the promoter signed a share sale agreement with incoming acquirers, who would also be required to make an open offer.

Preferential issue approved

• 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.
• Aggregate amount of up to Rs. 8.16 crore.
• Proposed allottees: Omnia Appliances Private Limited up to 20,00,000 shares and Anadi Investments Private Limited up to 4,00,000 shares, belonging to the "Public" category at the time of the issue.
• The issue is subject to the approval of the members of the company and applicable regulatory authorities.
• The board constituted a Preferential Issue Committee and approved the draft notice of Postal Ballot for approval by the members.

Promoter's share sale agreement

• Mr. Mehboob Alam, promoter, holding 22,83,705 equity shares representing 29.36% of the paid-up share capital, entered into a Share Purchase Agreement on October 13, 2026.
• The acquirers: Omnia Appliances Private Limited, Graphic Promoters and Developers Private Limited, Amaira Estate Advisors LLP and MLJ Aeternum LLP.
• The acquirers agree to acquire 18,90,000 equity shares representing 24.30% of the current paid-up share capital, at Rs. 34/- per Equity Share, total consideration Rs. 6.43 crore (Rupees Six Crore Forty-Two Lakh and Sixty Thousand Only).
• The stated purpose is acquisition of substantial shares and control over the company; the acquirers do not have any relationship with the company on the date of entering the SPA.

Control and open offer

• Pursuant to the proposed preferential issue and SPA, Omnia Appliances Private Limited along with other acquirers will be holding a substantial stake and will acquire joint control and management of the company.
• 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.

Shareholders Subscription Agreement

• Entered between the company and Omnia Appliances Private Limited to record the terms for issuing and allotting 20,00,000 equity shares to the allottee by preferential allotment.
• Price Rs. 34 per share, totalling Rs. 6.8 crore, paid in cash; the equity shares of face value Rs. 10 each rank pari passu with existing equity shares.

Other disclosures in the annexures

• The transaction would not fall within related party transactions, and the said parties are not related to the promoter/promoter group/group companies in any manner.
• Details and quantification of restriction or liability imposed upon the listed entity are stated as Nil, and there is no potential conflict of interest.

What the update sets out: the company proposes to issue up to 24,00,000 new equity shares at Rs. 34/- each, and the promoter has entered into an SPA for 18,90,000 existing equity shares at the same Rs. 34/- per share, with the acquirers required to make an open offer and to be classified as promoter on completion of the open offer formalities.

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