Mittal Life Style Limited Announces Preferential Share Issue
Mittal Life Style Limited announced on March 23, 2026, that its Board of Directors approved a preferential issue of equity shares on a private placement basis. The company plans to issue up to 99,225 equity shares with a face value of Re. 1 each, at an issue price of Rs. 1.20 per share, including a premium of 20 Paise per share. This transaction is expected to generate a total of Rs. 1,19,070.The preferential issue is being offered to Ms. Priya Chidurala, with a single investor participating. The issue price adheres to Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and will not be less than the floor price determined according to those regulations. The transaction is subject to member approval and necessary regulatory approvals.
The Board meeting commenced at 4:00 p.m. and concluded at 4:30 p.m. The company also approved a Postal Ballot Notice for member approval via remote e-voting and appointed Mr. Arun Dash of M/s. Arun Dash & Associates as the Scrutinizer for the postal ballot.
| Particulars | Issue of Securities on Preferential basis |
|---|---|
| Total number of securities proposed to be issued or the total amount for which the securities will be issued (approximately) | 99,225 (Ninety-Nine Thousand Two Hundred and Twenty-Five)Equity shares aggregating to Rs.1,19,070/- (Rupees One Lakh Nineteen Thousand and Seventy Only). |
| Number of Investors | 1 Investor |
| Issue Price | At a price not being lower than the price to be determined in accordance with the Chapter V of SEBI ICDR Regulations or such higher price as may be decided and deemed appropriate by the Board and stock exchange at the time of issue or allotment. Issue Price: The Equity Shares shall be issued at Rs. 1.20/- (One Rupee Twenty Paisa only) per Equity Share including a premium of 20 Paise, payable in cash ('Issue Price'). |
Source:
Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.