Preferential issue allottees substituted; corrigendum issued to EGM notice
Board meeting on October 23, 2026 approved a change in the proposed allottees for the equity preferential issue.
By ScoutQuest · · 2 min read
- Substituted allottees
- Vedcroft Ventures 6,995 shares ₹1,00,02,850.00; Deepak Gadia 4,200 shares ₹60,06,000.00
- New allottee - Samiksha Mogra
- 2,795 shares, ₹39,96,850.00
- Other new allottees
- Devendra Sharma, Jai Kishan Jasmatiya, Pawan Kripashankar Gupta, Gayatri Dharmendra Prajapat: 2,100 shares, ₹30,03,000.00 each
What the board approved
The board of directors met on October 23, 2026 and approved two connected items: a substitution of certain proposed allottees in the equity share preferential issue it had cleared on October 05, 2026, and a corrigendum to the notice of the extraordinary general meeting (EGM) to reflect that change.
Allottees being substituted
- Vedcroft Ventures Private Limited, non-promoter, 6,995 equity shares, ₹1,00,02,850.00
- Deepak Gadia, non-promoter, 4,200 equity shares, ₹60,06,000.00
New proposed allottees in their place
- Samiksha Mogra, non-promoter, 2,795 equity shares, ₹39,96,850.00
- Devendra Sharma, non-promoter, 2,100 equity shares, ₹30,03,000.00
- Jai Kishan Jasmatiya, non-promoter, 2,100 equity shares, ₹30,03,000.00
- Pawan Kripashankar Gupta, non-promoter, 2,100 equity shares, ₹30,03,000.00
- Gayatri Dharmendra Prajapat, non-promoter, 2,100 equity shares, ₹30,03,000.00
Every incoming allottee is in the non-promoter category, the same category as the two going out.
Rest of the offer terms
- Up to 8,66,434 fully paid equity shares of face value ₹10.00 each at an issue price of ₹1,430.00 per share, which includes share premium of ₹1,420.00 per share.
- Equity consideration for these shares: up to ₹1,23,90,00,620.00.
- Up to 30,35,711 fully convertible equity warrants at ₹1,430.00 per warrant, each convertible into or exchangeable for 1 equity share, for an amount aggregating up to ₹4,34,10,66,730.00.
- The relevant date used to determine the floor price is September 29, 2026.
What the corrigendum does
The corrigendum amends Item No. 1 of the EGM notice dated October 06, 2026 by deleting the two outgoing names and including the five new ones. It is to be read together with the original notice and forms an integral part of it. The EGM is scheduled for October 29, 2026 at 03:00 p.m. IST through video conferencing and other audio-visual means.
One more correction
The corrigendum also corrects the post-issue shareholding and percentage of Smruti Pratik Khara to reflect her acquisition of 359 equity shares on October 01, 2026. Aside from this and the consequential shareholding pattern changes, the resolutions and explanatory statement relating to Item No. 2 (the warrants) are unchanged.
Conditions attached
The substitution and the issue remain subject to shareholder approval at the EGM and to other statutory and regulatory approvals that may apply. Shares allotted are to be locked in for the period specified in Chapter V of the SEBI (ICDR) Regulations, and allotment is to be completed within a maximum of 15 days from the date of the shareholder resolution, or from receipt of the last regulatory approval where such approval is required.
What this means for retail investors
- This is a procedural change to who receives a slice of the equity shares, not a revision of the size or pricing of the offer as approved earlier.
- The issue price of ₹1,430.00 per equity share and the warrant price of ₹1,430.00 per warrant stay the same.
- The overall preferential issue still has to be approved by shareholders at the EGM on October 29, 2026 and by other authorities where applicable, before any shares or warrants are allotted.
Also from D.P. Abhushan
Corrigendum to EGM notice: two proposed allottees in preferential issue replaced
23 Oct 2026
EoGM on Oct 29, 2026: preferential issue of 8,66,434 shares and 30,35,711 warrants to be considered
7 Oct 2026
D P Abhushan announced a preferential issue fund raise of about Rs 558 crore, drawing interest from family offices and large HNIs, alongside a strong Q1 driven by gold prices
7 Oct 2026
More numbers
- Total equity shares in the preferential issue8,66,434
- Issue price per equity share₹ 1,430.00
- Total equity consideration₹ 1,23,90,00,620.00
- Total fully convertible equity warrants30,35,711
- Total warrant consideration4,34,10,66,730.00
- Vedcroft Ventures shares substituted out6,995
- Deepak Gadia aggregate consideration substituted out60,06,000.00
- Samiksha Mogra equity shares to be allotted2,795
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.