Promoter enters share purchase agreement to sell 24.30% stake; acquirers to be classified as promoter
The company received an intimation from Mr. Mehboob Alam, Promoter, about a Share Purchase Agreement dated October 13, 2026 entered into by him.
By ScoutQuest · · 2 min read
What the update says
The company received an intimation on October 14, 2026 from Mr. Mehboob Alam, Promoter of the company, about a Share Purchase Agreement dated October 13, 2026 entered into by him. The company is not a party to that agreement.
The seller and the stake involved
- Mr. Mehboob Alam, Promoter of the company, holds 22,83,705 equity shares, representing 29.36% of the paid-up share capital of the company.
- Under the SPA, the Acquirers agree to acquire, and the seller agrees to sale, 18,90,000 equity shares, representing 24.30% of the current paid-up share capital of the company.
- Consideration for the transaction: Rs. 6.43 crore (Rupees Six Crore Forty Two Lakh and Sixty Thousand Only).
Who is buying
- Omnia Appliances Private Limited, Graphic Promoters and Developers Private Limited, Amaira Estate Advisors LLP and MLJ Aeternum LLP are together referred to as the Acquirers.
- The update states the purpose of the agreement is acquisition of substantial shares and control over the company.
- The Acquirers have no relationship with the company as on the date of the SPA.
- The transaction is not a related party transaction, and the update states there is no potential conflict of interest.
Impact on management and control
- The update states that pursuant to the completion of the open offer, the Acquirer, Omnia Appliances Private Limited, along with the other Acquirers under the open offer, will be classified into the promoter of the company.
Other points disclosed
- Details and quantification of any restriction or liability imposed on the listed entity: Nil.
- The Acquirers are not related to the promoter, promoter group or group companies.
How to read this
This is a promoter-level transaction rather than a transaction by the company itself: the company is not a party to the agreement, and no restriction or liability is imposed on the listed entity. What the update sets out is a change in who will be classified as promoter of the company once the open offer is completed, along with the size of the stake involved and the consideration agreed between the seller and the Acquirers.
Also from Comrade Appliances
Open offer for up to 26,46,487 shares at INR 35.00 each, 26.00% of expanded capital
21 Oct 2026
Promoter to sell 18,90,000 shares, 24.30% stake, for Rs. 6.43 crore under share purchase agreement
14 Oct 2026
Open offer for up to 26,46,487 shares (26.00%) at INR 35 per share
14 Oct 2026
More numbers
- Promoter Mr. Mehboob Alam's holding22,83,705 equity shares
- Promoter's holding as % of paid-up share capital29.36%
- Shares to be sold under the SPA18,90,000 equity shares
- Shares under SPA as % of current paid-up share capital24.30%
- Consideration under the SPARs. 6,42,60,000/-
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