Bazel International Ltd. Appoints Director, Allots Shares, and Increases Authorized Capital
Bazel International Ltd., a registered Non-Banking Financial Company, announced several corporate actions following a board meeting held on March 30, 2026.The company appointed Mr. Mayank Ahuja as an Additional (Non-Executive non-Independent) Director, effective immediately. Mr. Ahuja’s appointment was based on the recommendation of the Nomination and Remuneration Committee and is valid up to the ensuing General Meeting. He brings extensive experience in the FMCG, consumer, and SaaS sectors.
Bazel International Ltd. also approved the allotment of 21,04,802 fully paid-up equity shares of ₹10 each to warrant holders (Non-Promoter Group). The shares were issued at an issue price of ₹42.12 per share, including a premium of ₹32.12 per share, pursuant to the conversion of previously issued warrants. The company received an aggregate amount of ₹6,64,90,695.18 towards the conversion. The equity share capital increased from ₹7,71,04,440 consisting of 77,10,444 equity shares to ₹9,81,52,460 consisting of 98,15,246 equity shares.
Furthermore, the Board approved a partial implementation of an increase in the Authorized Share Capital, bringing it from ₹7,75,00,000 to ₹10,25,00,000 by creating 25,00,000 additional equity shares of ₹10 each, within an overall approved limit of ₹75,00,00,000.
Details of Director Appointment
| Particulars | Details |
|---|---|
| Name | Mr. Mayank Ahuja (DIN:10388943) |
| Reason for change | Appointment as Additional Director (Non-Executive, Non-Independent) |
| Date of appointment & term | March 30, 2026 |
| Brief profile | Mr. Mayank Ahuja has extensive experience working with international FMCG, Consumer, and SaaS Based companies. |
| Disclosure of relationships between directors | Mr. Mayank Ahuja is not related to any Directors of the Company. |
Details of Preferential Allotment of Equity Shares
| Sr No | Particulars | Description |
|---|---|---|
| 1. | Type of securities proposed to be issued | Equity Shares pursuant to conversion of warrants |
| 2. | Type of issuance | Preferential allotment (Conversion of Warrants into Equity Shares). |
| 3. | Total number of securities issued (approximately) | Allotment of 21,04,802 equity shares of ₹10 each upon conversion of warrants, at an issue price of ₹42.12 per share. The total consideration was ₹6,64,90,695.18. |
| 4. | Name of the Allottee(s) | Garbi Finvest Limited, Durgesh Merchants Limited, Mohit Sharma, Maithli Sharma, Mohit Sharma HUF, Rakesh Kahnna, Ankit Garg, Geeta Gudwani, Bharat Gudwani HUF, Akshay Gudwani |
Post-Allotment Equity Holding of Allottees (as of March 30, 2026)
| Name | Pre-Issue Equity Holding | No. of Shares Allotted | Post-Issue Equity Holding | % Holding |
|---|---|---|---|---|
| Garbi Finvest Limited | 0 | 12,45,159 | 12,45,159 | 12.69% |
| Durgesh Merchants Limited | 8,74,316 | 6,38,643 | 15,12,959 | 1.54% |
| Mohit Sharma | 0 | 30,000 | 30,000 | 0.31% |
| Maithli Sharma | 0 | 30,000 | 30,000 | 0.31% |
| Mohit Sharma HUF | 0 | 36,000 | 36,000 | 0.37% |
| Rakesh Kahnna | 0 | 25,000 | 25,000 | 0.25% |
| Ankit Garg | 0 | 30,000 | 30,000 | 0.31% |
| Geeta Gudwani | 0 | 25,000 | 25,000 | 0.25% |
| Bharat Gudwani HUF | 0 | 20,000 | 20,000 | 0.20% |
| Akshay Gudwani | 0 | 25,000 | 25,000 | 0.25% |
The Board meeting commenced at 12:00 P.M. and concluded at 3:00 P.M.
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