Krishna Capital and Securities Ltd. Increases Authorized Share Capital and Approves Share Purchase Agreement
Krishna Capital and Securities Ltd. announced several key decisions following a board meeting held on March 26, 2026. The company approved an increase in its authorized share capital from Rs. 4,00,00,000 to Rs. 34,00,00,000, and approved a Share Purchase Agreement (SPA) involving promoters and Mr. Ashu Jagmalaram Bishnoi and Mr. Yagnik Bharatkumar Tank.Under the SPA, the acquirers have agreed to acquire up to 13,53,892 equity shares, representing 42.87% of the company's paid-up equity share capital, at a consideration of up to Rs. 20 per share. This transaction will require the acquirer to make an open offer to the company’s public shareholders, as per SEBI regulations.
Additionally, the board approved the issuance of up to 3,00,00,000 equity shares on a preferential basis through a private placement.
Mr. Vinod Singh (DIN: 10454743) has been appointed as an Additional Executive Director (professional) effective March 26, 2026.
An Extraordinary General Meeting (EGM) has been scheduled for April 25, 2026, at 11:30 AM via video conferencing. Remote e-voting will be available from April 22, 2026, at 09:00 AM to April 24, 2026, at 05:00 PM.
Share Purchase Agreement Details
The SPA involves the following parties:
- Sellers: Ashokkumar B. Agrawal HUF, Jitendra A. Agrawal HUF, Kirankumar Babulal Agrawal, Pankaj Vinodkumar Agrawal, Jitendra Ashokkumar Agrawal, Rakhi Tarun Garg, Megha Pankaj Agrawal, Urmila Kirankumar Agrawal, Vinodkumar Babulal Agrawal, Rajkumari Ashokkumar Agrawal, Ashokkumar Babulal Agrawal, Rahul Vinodkumar Agrawal, Nidhi Ankait Agrawal, Rakhi Jitendra Agrawal, Ankit Kirankumar Agrawal, Santosh Vinodkumar Agrawal, Vinodkumar B. Agrawal HUF, Kirankumar B. Agrawal HUF, Krishna Sharebroking Services Pvt Ltd, Radius Global Pvt Ltd.
- Acquirer: Mr. Ashu Jagmalaram Bishnoi and Mr. Yagnik Bharatkumar Tank.
The transaction will be executed at a price of up to Rs. 20 per share.
Preferential Allotment Details
The preferential allotment involves:
- Number of Shares: Up to 3,00,00,000 Equity Shares
- Issue Price: Rs. 20 per share
- Investors: Ashu Jagmalaram Bishnoi, Yagnik Bharatkumar Tank, Rohankumar Hasmukhbhai Desai, Chhayaben Rohankumar Desai, and Rameshbhai shambhubhai Bhalala.
| Sr. No. | Name of Allottees | Category (Promoter / Non-Promoter) | Number of Equity Shares Allotted |
|---|---|---|---|
| 1 | Ashu Jagmalaram Bishnoi | Promoter | 80,00,000 |
| 2 | Yagnik Bharatkumar Tank | Promoter | 1,55,00,000 |
| 3 | Rohankumar Hasmukhbhai Desai | Non-Promoter | 30,00,000 |
| 4 | Chhayaben Rohankumar Desai | Non-Promoter | 30,00,000 |
| 5 | Rameshbhai shambhubhai Bhalala | Non-Promoter | 5,00,000 |
The board meeting concluded at 7:45 PM.
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