Krishna Capital and Securities Ltd. Committee Approves Preferential Issue and Potential Change in Control
Krishna Capital and Securities Ltd. announced on March 26, 2026, that its Committee of Independent Directors has approved a proposed preferential allotment of 3,00,00,000 Equity Shares. The allotment is intended for a non-promoter, with two proposed allottees, Mr. Ashu Jagmalaram Bishnoi and Mr. Yagnik Bharatkumar Tank, potentially being classified as promoters following an open offer under the Securities and Exchange Board of India (Substantial Acquisitions of Shares and Takeovers) Regulations, 2011. This transaction is expected to result in a change in control for the company.The preferential issue price has been set at Rs. 20 per share. This valuation was based on a report dated March 26, 2026, from Mr. Manish Santosh Buchasia, an IBBI Registered Valuer (Registration No: IBBI/RV/03/2019/12235). The committee determined that the price, which includes a control premium, is fair and reasonable.
The Committee's voting on the proposal was as follows:
| Sr. No. | Name of Independent Director | Assent | Dissent |
|---|---|---|---|
| 1 | Kalpesh Anubhai Mehta | √ | |
| 2 | Meenu Maheshwari | √ |
Ashokkumar Agrawal, Managing Director (DIN: 00944735), confirmed the announcement.
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