Preferential allotment of 19,99,996 equity shares at Rs. 270 each for Ultrafresh acquisition

19,99,996 equity shares allotted on a preferential basis at Rs. 270 each (face value Rs. 2 + premium Rs. 268), aggregating Rs. 53,99,98,920, to 9 non-promoter investors for consideration other than cash.

Thu 1 Oct 2026

Equity shares allotted

19,99,996 equity shares allotted on a preferential basis

Issue price

Rs. 270 each (face value Rs. 2 + premium Rs. 268)

Total consideration

Rs. 53,99,98,920

Allottees

9 non-promoter investors

Purpose

consideration other than cash, in lieu of acquiring 100% stake in Ultrafresh Modular Solutions Ltd by way of a share swap

Preferential allotment completed

• The company has allotted 19,99,996 fully paid-up equity shares on a preferential basis.
• Issue price is Rs. 270 per equity share, which includes a premium of Rs. 268 per equity share over the face value of Rs. 2 each.
• The total amount aggregating to the allotment is Rs. 53,99,98,920.
• The allotment was approved by the Management Committee of the Board.
• These Subscription Shares shall rank pari-passu, in all respects, with the existing equity shares of the company.

Who received the shares

• The allotment was made to 9 investors, all belonging to the Non-Promoter category — that is, persons other than the promoter/promoter group.
• TTK Prestige Limited: 10,20,038 shares
• Dhruv Dinesh Trigunayat: 4,72,005 shares
• Priya Trigunayat: 3,50,172 shares
• D Sharma & Sons (HUF): 47,857 shares
• Rahul Mangilal Jain: 43,754 shares
• Pranav Malhotra: 32,661 shares
• Aruna Sharma: 14,367 shares
• Nishi Sharma: 9,571 shares
• Sonal Ravikumar Mehta: 9,571 shares

Why the shares were issued

• The company states the allotment was made to the shareholders of Ultrafresh Modular Solutions Limited ("Ultrafresh") for consideration other than cash.
• It is in lieu of acquisition of a 100% stake in Ultrafresh on a fully diluted basis, by way of a share swap.
• In simple terms: the sellers of Ultrafresh have received EFC (I) equity shares instead of cash, which is why the update describes the consideration as other than cash.

What this means in simple terms

• A preferential allotment means the company has issued fresh shares to a specific set of identified investors, rather than to the public at large.
• Because the shares are issued to persons outside the promoter/promoter group as part of a share swap, the total number of equity shares outstanding rises.
• The disclosure was made under Regulation 30 of the Listing Regulations, with details of the preferential issue set out in an annexure and the list of allottees in a schedule.

Points a retail investor may track

• The equity base has expanded by 19,99,996 shares at an issue price of Rs. 270 each.
• The allottees are Non-Promoter entities and individuals, so promoter shareholding is not being increased through this allotment.
• The shares were issued against a business acquisition (Ultrafresh) rather than for cash, so the company raised no cash in this transaction.
• The newly allotted shares carry the same rights as existing equity shares.

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