Board approves preferential allotment of 37,60,000 shares at ₹375 each, raising ₹141,00,00,000

Board approved allotment of 37,60,000 fully paid-up equity shares on a preferential basis.

Fri 2 Oct 2026

Shares Allotted

37,60,000 fully paid-up equity shares on a preferential basis

Issue Price

₹375/- per share (face value ₹5/-, premium ₹370/-)

Total Issue Size

₹141,00,00,000/-, entire amount received before allotment

Number of Allottees

12 investors — a Promoter Group entity plus Non-Promoter allottees

Promoter Group Allotment

Garudlaxmi Ventures LLP (Promoter Group) allotted 18,93,334 shares, 4.89% post-issue

Board approves allotment of preferential shares

The Board of Directors, at its meeting held on October 02, 2026, approved the allotment of 37,60,000 fully paid-up equity shares of face value of ₹5/- each, at an issue price of ₹375/- per equity share, on a preferential basis by way of private placement, to persons and entities in the 'Promoter & Promoter Group' and 'Non-Promoter' categories.

The allotment follows the special resolution passed by members at the Extra-Ordinary General Meeting held on Wednesday, September 02, 2026, read together with the Corrigendum to the EGM Notice dated August 21, 2026 and the Further Corrigendum to the EGM Notice dated August 28, 2026.

What was issued and at what price

• Number of shares: 37,60,000
• Face value: ₹5/- per share
• Issue price: ₹375/- per share
• Premium: ₹370/- per share
• Total amount: ₹141,00,00,000/-

The entire consideration of ₹141,00,00,000/-, being 100% of the issue price, was received from the allottees prior to the allotment. The price was determined in accordance with Regulation 164 of the SEBI ICDR Regulations and is not less than the minimum price of ₹374.13 per equity share. The Relevant Date for Regulation 161 of the SEBI ICDR Regulations was Monday, August 3, 2026.

Who received the shares

The preferential issue was fully subscribed and 37,60,000 equity shares were allotted to 12 (Twelve) investors.

• Garudlaxmi Ventures LLP (Promoter Group): 18,93,334 shares, 4.89% of post-issue holding
• Singularity Large Value Fund III: 4,66,667 shares, 1.20%
• Utpal Hemendra Sheth: 4,00,000 shares, 1.03%
• Kiran Vyapar Limited: 2,66,667 shares allotted (holding rises from 1,461 to 2,68,128 shares, 0.69%)
• Antique Securities Private Limited: 2,66,667 shares, 0.69%
• Sthitaprajna Advisors LLP: 1,12,000 shares, 0.29%
• Chanakya Wealth Creation Fund: 1,06,666 shares allotted (holding rises from 1,16,803 to 2,23,469 shares, 0.58%)
• Siddharth Kabra: 80,000 shares, 0.21%
• Surendra Lakhumal Hiranandani: 61,333 shares allotted (holding rises from 45,902 to 1,07,235 shares, 0.28%)
• Amit Mehta: 53,333 shares, 0.14%
• Nitish Mittersain: 26,667 shares, 0.07%
• Rakesh Amarlal Hinduja: 26,666 shares, 0.07%

How the share capital changes

• Pre-allotment: ₹ 17,48,64,180/- divided into 3,49,72,836 equity shares of ₹5/- each
• Post-allotment: ₹ 19,36,64,180/- divided into 3,87,32,836 equity shares of ₹5/- each

The newly allotted equity shares rank pari-passu and carry the same rights as the existing equity shares of the company in all respects, and are subject to lock-in as prescribed under Chapter V of the SEBI ICDR Regulations.

What this means for a retail investor

The company has brought in ₹141,00,00,000/- of fresh money by issuing new shares, and the number of shares in issue has gone up from 3,49,72,836 to 3,87,32,836 as a result.

Because the shares are new, every existing shareholder's holding now represents a smaller percentage of a larger share base, unless they too participated in the issue. The update shows existing holders such as Kiran Vyapar Limited, Surendra Lakhumal Hiranandani and Chanakya Wealth Creation Fund adding to their holdings through this issue, and a Promoter Group entity, Garudlaxmi Ventures LLP, taking 18,93,334 shares, or 4.89% of the post-issue capital.

The shares were allotted only after the full consideration was received, and a lock-in applies to the allotted shares as prescribed under Chapter V of the SEBI ICDR Regulations.

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