Independent Directors' Committee recommends preferential issue of up to 24,00,000 equity shares
The Committee of Independent Directors has recommended a proposed preferential issue of equity shares.
By ScoutQuest · · 1 min read
- Issue Size
- Up to 24,00,000 equity shares of face value Rs. 10/- each
- Issue Price
- Rs. 34/- per share, for cash
- Total Issue Size
- up to Rs. 8.16 crore
The Committee of Independent Directors of the company met on Tuesday, October 13, 2026 and recommended a proposed preferential issue of equity shares.
Issue size and price
- Up to 24,00,000 equity shares of face value of Rs. 10/- each
- Issue price: Rs. 34/- per share, for cash
- Amount aggregating up to Rs. 8.16 crore
Who the shares are proposed to be issued to
- Omnia Appliances Private Limited: up to 20,00,000 equity shares
- Anadi Investments Private Limited: up to 4,00,000 equity shares
- Total: up to 24,00,000 equity shares
What the committee said
The committee reviewed the Valuation Report along with other relevant documents and information provided by the company. It is of the view that the offer price is in line with the parameters prescribed under the SEBI ICDR Regulations. The members voted unanimously in favour and recommended the issuance of equity shares on a preferential basis.
Other points stated in the annexure
- The members of the committee are only Directors of the company and have no other relationship with the company.
- None of the members traded in the equity shares of the company during the 12 months prior to the relevant date, that is Tuesday, October 13, 2026.
- None of the members holds any contracts or has any relationship with the proposed allottees.
- Details of independent advisors: None.
What a preferential issue means
In a preferential issue, new equity shares are allotted to a specific set of investors instead of being offered to the public at large. Such an issue adds to the total number of equity shares of the company, which is commonly called dilution. The recommendation of the Independent Directors Committee is a step in the process, and the update describes the issue as proposed.
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Promoter enters share purchase agreement to sell 24.30% stake; acquirers to be classified as promoter
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More numbers
- Equity shares proposed to be issued (up to)24,00,000
- Face value per equity shareRs. 10/-
- Issue price per equity shareRs. 34/-
- Aggregate issue size (up to)Rs. 8,16,00,000/-
- Shares proposed to Omnia Appliances Private Limited (up to)20,00,000
- Shares proposed to Anadi Investments Private Limited (up to)4,00,000
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