Krishna Capital and Securities Ltd Approves Preferential Issue with Change in Control
Krishna Capital and Securities Ltd announced the outcome of its Independent Director Committee Meeting 2026, which considered the proposal to make a preferential allotment of 3,00,00,000 Equity Shares to a non-promoter, who is proposed to be classified as a promoter. The proposed allottees, Mr. Ashu Jagmalaram Bishnoi and Mr. Yagnik Bharatkumar Tank, would become promoters pursuant to an Open offer under the Securities and Exchange Board of India (Substantial Acquisitions of Shares and Takeovers) Regulations, 2011, leading to a change in control. The Issue price of Rs. 20/- has been determined as per Chapter V of the SEBI ICDR Regulations, and includes a control premium on account of change in control. The Independent Director Committee has deemed the Issue price and the proposed preferential allotment to be fair and reasonable.
Key Highlights
- Krishna Capital and Securities Ltd approved a preferential allotment of 3,00,00,000 Equity Shares to a non-promoter.
- The proposed allottees, Mr. Ashu Jagmalaram Bishnoi and Mr. Yagnik Bharatkumar Tank, would become promoters.
- The proposed transaction would result in a change in control.
- The Issue price of Rs. 20/- includes a control premium.
- The Independent Director Committee has deemed the Issue price and the proposed preferential allotment to be fair and reasonable.