Comrade Appliances Approves ₹8.16 Cr Preferential Issue

Comrade Appliances Limited's Board of Directors has approved a preferential issue of up to 24,00,000 equity shares at ₹34 per share, aggregating up to ₹8.16 Crore. This issue is primarily to Omnia Appliances Private Limited (20,00,000 shares) and Anadi Investments Private Limited (4,00,000 shares). Concurrently, a Share Purchase Agreement was signed for the acquisition of 18,90,000 equity shares (24.30%) by Omnia Appliances, Graphic Promoters, Amaira Estate Advisors, and MLJ Aeternum LLP from promoter Mehboob Alam at ₹34 per share, totaling ₹6.43 Crore. Post these transactions, Omnia Appliances and other acquirers will acquire joint control and management, leading to an Open Offer obligation. A Preferential Issue Committee has been constituted, and a draft postal ballot notice has been approved.