Acquisitions10 Mar 2026, 06:43 pm
RGF Capital Markets Ltd. to Increase Authorized Capital and Acquire 24.98% Stake from Existing Promoters
AI Summary
RGF Capital Markets Ltd. announced that its Board of Directors approved an increase in authorized capital from ₹ 15,50,00,000 to ₹ 70,00,00,000 and corresponding amendments to the Memorandum of Association. The Board also considered and approved the execution of a Share Purchase Agreement between proposed acquirers and sellers for the acquisition of 3,74,69,556 equity shares, representing 24.98% of the existing share capital. This acquisition, subject to necessary approvals, will result in the Acquirers becoming the promoters of the company and the sellers ceasing to be promoters.
Key Highlights
- Increase in authorized capital from ₹ 15,50,00,000 to ₹ 70,00,00,000
- Execution of Share Purchase Agreement for the acquisition of 24.98% stake in the company
- Acquirers to become the new promoters of the company upon completion of the transaction
- Sellers to cease to be promoters and become public shareholders
- Open offer to be made in accordance with SEBI (SAST) Regulations