Mizzen Ventures Limited Votes to Increase Authorized Capital and Raise Rs 10 Crore in Preferential Issue
Mizzen Ventures Ltd, previously known as Jyothi Infraventures Limited, is undertaking a significant capital restructure and financing initiative. The company has proposed a resolution to increase its authorized share capital and sought shareholder approval for a substantial preferential issue aimed at funding business expansion across its operations and that of its wholly-owned subsidiary, Mizzen Digital Private Limited.The planned transactions are set to strengthen the company’s capital base in preparation for long-term growth requirements. The Board approved the proposed resolutions in June 2026, pending shareholder approval.
Capital Structure Enhancement
As part of the restructuring, Mizzen Ventures Ltd intends to increase its authorized share capital. The company currently possesses an authorized capital of Rs 22,10,00,000, divided into 2,21,00,000 Equity Shares of Rs 10 each. This will be increased to Rs 22,80,00,000, which corresponds to 2,28,00,000 Equity Shares of the same denomination.The details of the authorized capital are as follows:
| Capital Type | Current Authorized Capital (Amount) | Current Share Count (Rs 10 each) | Proposed Authorized Capital (Amount) | Proposed Share Count (Rs 10 each) |
|---|---|---|---|---|
| Authorised Share Capital | Rs 22,10,00,000 | 2,21,00,000 | Rs 22,80,00,000 | 2,28,00,000 |
Preferential Issue Details
The company is proposing a preferential issue for cash consideration to non-promoters belonging to the Non-Promoter Public Category. The resolution authorizes the board to create, offer, and allot up to 8,00,000 Equity Shares of face value Rs 10 each. These shares are offered at an issue price of Rs 125 per share.The intent behind this strategic financing is to raise a total amount of Rs 10,00,00,000 (Rupees Ten Crore). The proceeds will be utilized for the growth and operational requirements of both Mizzen Ventures Limited and its subsidiary, Mizzen Digital Private Limited.
A breakdown of how the issue proceeds are planned to be utilised across the two entities is presented below:
| Purpose for Utilization | Ventures Ltd Amount | Subsidiary Amount | Total Allocation (Rs) |
|---|---|---|---|
| Sales, marketing and business development expenses | 25,00,000 | 2,50,00,000 | 2,75,00,000 |
| Technology platform upgrade and product enhancement | 25,00,000 | 3,50,00,000 | 3,75,00,000 |
| Employee salaries and manpower costs | 25,00,000 | 2,00,00,000 | 2,25,00,000 |
| Working capital and administrative expenses | 50,00,000 | 75,00,000 | 1,25,00,000 |
| Total | 1,25,00,000 | 8,75,00,000 | 10,00,00,000 |
The company intends to utilize the issue proceeds within 12 months from the date of receipt of funds. The board has recommended that the preferential allotment be conducted in the best interests of the company.
Allottee Details and Shareholding Update
The proposed issue includes a roster of twenty-four individuals targeted as potential Equity Allottees, all categorized as Non-Promoters. These include names such as Mala Vijaykumar Doshi, Neha Nishit Goradia, Amit Balkrishna Arole, and Sachin Bhanudas Chandsarkar.Post the successful completion of the preferential allotment, the shareholding structure is expected to reflect a change in the non-promoter category holding. The pre-issue showholding for Non-Promoters was 76,59,932 shares (34.83%), and following the proposed issue of up to 8,00,000 shares, this figure is projected to rise to 84,59,932 shares (37.11%).
The company noted that no existing Directors or Key Managerial Personnel intend to subscribe to the offered equity shares during this financial year.
Stock Price Movement
As of 15:05, shares of Mizzen Ventures Ltd are trading flat at ₹128.00, showing zero percentage change. The stock has been completely locked into this price point, as the intraday high and low have both registered at ₹128.00.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.
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