Vellora Impact Ltd Approves Rights Issue and Capital Increase; Promoters Seeking Public Category Status
Vellora Impact Limited, formerly known as Pratiksha Chemicals Limited, announced significant operational approvals following its Board of Directors meeting held on July 30, 2026. The company approved a substantial rights issue aimed at fundraising, along with an increase in its authorized share capital and the reclassification request from several key shareholders.The Board granted approval for raising funds through a Rights Issue, allowing the issuance and allotment of Equity Shares having a face value of Rs. 10.00/- (Rupees Ten Only). The rights issue is designed to raise an aggregate amount not exceeding Rs. 70 Crores. The company approved the draft Letter of Offer and associated documents related to this planned offering.
Capital Restructuring and Share Allotment
In a move to enhance capital flexibility, the Board approved an increase in the Authorized Share Capital of the company. This expansion is subject to shareholder approval.The increase changes the authorized capital details from:
| Existing Authorized Capital | Details |
|---|---|
| Total Capital Value | Rs. 7,50,00,000 (Rupees Seven Crore Fifty Lakhs Only) |
| Number of Shares | 75,00,000 Equity Shares |
To:
| Proposed Authorized Capital | Details |
|---|---|
| Total Capital Value | Rs. 77,50,00,000 (Rupees Seventy Seven Crore Fifty Lakhs Only) |
| Number of Shares | 7,75,00,000 Equity Shares |
The company also approved the rescinding of a previous Special Resolution passed at an Extraordinary General Meeting on February 20, 2026, regarding an earlier proposed increase in Authorized Share Capital.
Promoters Seek Public Category Status
A critical resolution approved by the Board concerned the request received from several shareholders and associated entities for reclassification from 'Promoter' and 'Promoter Group Category' to 'Public Category.' The request was submitted on July 29, 2026, by a group of individuals and an HUF.The shareholders seeking reclassification include:
- Kantilal Patel
- Mukesh Chinubhai Shah
- Harish K. Bhatt
- Surbhi Harishbhai Bhatt
- Harshadbhai K. Patel
- Ratnakalaben H. Patel
- Jayesh Patel
- Purnima Adhvaryu
- Harshad Kantilal Patel HUF (HUF)
The Board also noted the status of Mr. Chandraprabha K. Bhatt and Mr. Jayesh Bachubhai Chauhan, who were part of the Promoter/Promoter Group but have passed away. Additionally, H B Builders Pvt. Ltd., which was part of the Promoter/Promoter Group, has been struck off from the Register of Companies.
The board confirmed that the requests for reclassification are subject to necessary stock exchange approval. The details of the shareholding as of July 29, 2026, are as follows:
| Name of Promoters | No of Shares held | % of Holding |
|---|---|---|
| KANTILAL PATEL | 1,74,010 | 3.12 |
| MUKESH CHINUBHAI SHAH | 19 | 0 |
| HARISH K. BHATT | - | - |
| SURBHI HARISHBHAI BHATT | - | - |
| HARSHADBHAI K PATEL | - | - |
| RATNAKALABEN H PATEL | - | - |
| JAYESH PATEL | - | - |
| PURNIMA ADHVARYU | - | - |
| HARSHAD KANTILAL PATEL HUF (HUF) | - | - |
| HARSHADBHAI K PATEL | - | - |
| JAYESH BACHUBHAI CHAUHAN | - | - |
| H B BUILDERS PVT LTD | - | - |
Governance and Future Steps
The Board also constituted a Rights Issue Committee, comprising Mr. Sumit Harjibhai Gol (Chairman), Mr. Kishan Rajeshbhai Mendapara, and Khushbu Hemanshu Nadapara. This committee was authorized to appoint necessary intermediaries related to the rights issue process.Furthermore, the company will conduct a Postal Ballot via E-voting for members to approve the increased Authorized Share Capital and the rescinding of the earlier special resolution. The cut-off date for determining eligibility to vote is set for Friday, July 31, 2026.
Stock Price Movement
Pratiksha Chemicals Ltd settled at ₹15.40 today, edging higher by 10.32% in post-market trading. The shares moved significantly throughout the session, finding a low of ₹13.60 but ultimately reaching an intraday high of ₹16.40.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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