Board approves allotment of 23,90,000 equity shares on preferential basis to promoters and promoter group

Board approved allotment of 23,90,000 equity shares on a preferential basis to promoters and promoter group at ₹20.47 per share (face value ₹10 + premium ₹10.47).

Mon 5 Oct 2026

Shares allotted

23,90,000 equity shares on a preferential basis

Issue price

₹20.47 per share (face value ₹10 + premium ₹10.47)

Aggregate consideration

₹4,89,23,300.00, across 8 allottees

Paid-up equity capital

rises from ₹24,97,75,500 to ₹27,36,75,500; shares from 2,49,77,550 to 2,73,67,550

Promoter group holding

moves from 44.35% to 49.21%

Preferential allotment to promoters and promoter group

The Board of Directors, at its meeting on Monday, October 05, 2026, approved the allotment of 23,90,000 equity shares of face value ₹10 each at an issue price of ₹20.47 per equity share, on a preferential basis through private placement, to promoters and members of the promoter group.

The issue price includes a premium of ₹10.47 per equity share. The aggregate consideration works out to ₹4,89,23,300.00.

This follows the Board meeting held on August 19, 2026 and the approval granted by the shareholders at the 5th Annual General Meeting held on September 11, 2026.

Who received the shares

• Allottees are 8 in number, all promoters or promoter group members.
• Faizal Bavaraparambil Abdul Khader: 13,00,000 shares, ₹2,66,11,000.00
• Bavaraparambil Hydrose Abdhul Kadher: 2,50,000 shares, ₹51,17,500.00
• Sruthi Muhammed Ali: 2,50,000 shares, ₹51,17,500.00
• Safa Plywoods Private Limited: 1,50,000 shares, ₹30,70,500.00
• Pathukunju Abdul Khader: 1,10,000 shares, ₹22,51,700.00
• Soumya Arakkal Ayyoob: 1,10,000 shares, ₹22,51,700.00
• Ayyoob Bavaraparambil Abdul Khader: 1,10,000 shares, ₹22,51,700.00
• Anaz Abdul Khader Bavaraparambil: 1,10,000 shares, ₹22,51,700.00
• Total: 23,90,000 shares, ₹4,89,23,300.00

What changes in the share capital

• Paid-up equity share capital rises from ₹24,97,75,500 to ₹27,36,75,500.
• In share terms, from 2,49,77,550 equity shares to 2,73,67,550 equity shares.
• The newly allotted shares will rank pari passu with the existing equity shares in all respects.

How promoter holding moves

• Promoter group total: from 1,10,77,550 shares (44.35%) to 1,34,67,550 shares (49.21%).
• Faizal Bavaraparambil Abdul Khader: from 28,84,000 shares (11.55%) to 41,84,000 shares (15.29%).
• Sruthi Muhammed Ali: from 15,50,450 shares (6.21%) to 18,00,450 shares (6.58%).
• Bavaraparambil Hydrose Abdhul Kadher: from 11,81,250 shares (4.73%) to 14,31,250 shares (5.23%).
• Soumya Arakkal Ayyoob: from 11,81,250 shares (4.73%) to 12,91,250 shares (4.72%).
• Ayyoob Bavaraparambil Abdul Khader: from 11,81,250 shares (4.73%) to 12,91,250 shares (4.72%).
• Anaz Abdul Khader Bavaraparambil: from 11,81,250 shares (4.73%) to 12,91,250 shares (4.72%).
• Pathukunju Abdul Khader: from 11,81,250 shares (4.73%) to 12,91,250 shares (4.72%).
• Safa Plywoods Private Limited: from 7,36,850 shares (2.95%) to 8,86,850 shares (3.24%).

How to read this type of announcement

In a preferential allotment, shares are issued to a selected set of investors rather than to the public. Here, the allottees are the promoter and promoter group, and the shares are being issued at ₹20.47 each, which the company states includes a premium of ₹10.47 over the ₹10 face value.

Because new shares are added to the existing base, the total number of equity shares goes up from 2,49,77,550 to 2,73,67,550. The update states the fresh shares rank pari passu with existing shares, meaning they carry the same rights.

The company will be making an application to the stock exchange for listing and trading approval for the newly allotted shares in due course.

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.