Comrade Appliances Approves ₹8.16 Cr Preferential Issue

Comrade Appliances Limited announced a preferential issue of up to 24,00,000 equity shares at ₹34 per share, aggregating ₹8.16 Crore. This issue is part of a larger transaction where Omnia Appliances Private Limited and other acquirers will acquire a significant stake and joint control, leading to Omnia Appliances becoming part of the promoter group post an open offer. Additionally, a Share Purchase Agreement was signed for the sale of 18,90,000 equity shares (24.30%) by promoter Mehboob Alam to Omnia Appliances and other acquirers for ₹6.42 Crore. A Preferential Issue Committee has been formed, and a draft notice for postal ballot has been approved.