Esaar (India) Ltd appointed M/s. Rao & Shyam as its internal auditor for the financial year 2026-27. The Board of Directors approved the engagement during a meeting held on September 21, 2026.

The appointment covers a term of one year. M/s. Rao & Shyam is a firm of practicing chartered accountants registered with the Institute of Chartered Accountants of India (ICAI) under Firm Registration Number 006186S. Based in Mumbai, the firm specializes in internal audit, risk management, taxation, and internal controls.

Appointment Details

The company made the disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing also references Para A of Schedule III of the same regulations and SEBI Master Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Bipin D Varma, Whole-Time Director of Esaar (India) Ltd, signed the intimation letter addressed to BSE Limited.

Esaar (India) Limited saw its promoter group increase control after Prabhat Capital Investments Limited acquired a 35.26% stake through a rights issue.

The acquisition, completed on September 15, 2026, was disclosed under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was submitted to the BSE on September 16, 2026.

Stake Accumulation Details

Prabhat Capital Investments Limited, identified as part of the promoter group, acquired 2,83,51,258 equity shares carrying voting rights. This transaction represented 35.26% of the company’s total share and voting capital at the time of acquisition.

Prior to this move, the acquirer’s holding stood at 8,46,352 shares, constituting 4.14% of the total voting capital. No encumbrances, warrants, or convertible securities were involved in either the pre-acquisition or post-acquisition holdings.

Post-Acquisition Holding Structure

Following the rights issue, Prabhat Capital Investments Limited’s total holding rose to 2,91,97,610 shares. This represents 36.31% of the total diluted share and voting capital of Esaar (India) Limited.

The transaction significantly expanded the company’s equity base. Before the acquisition, the total voting capital was ₹20,44,25,000, divided into 2,04,42,500 equity shares with a face value of ₹10 each. After the issuance, the total voting capital increased to ₹80,40,71,670, comprising 8,04,07,167 equity shares of the same face value.

What the Numbers Show

The four-fold increase in total equity capital, from approximately ₹20 crore to ₹80 crore, indicates a substantial capital infusion event. The promoter group’s ability to subscribe to a significant portion of this new issuance suggests strong balance sheet support or strategic intent to maintain control despite the dilution effect of the rights issue on existing non-participating shareholders.