Kaya Limited received in-principle approval from BSE and NSE on October 19, 2026, for its proposed preferential issue of equity shares aggregating ₹49.99 crore.

The company will allot 18,24,150 equity shares of face value ₹10 each at a price of ₹274.10 per share. The allottees are Axana Estates LLP and Plutus Investments India Private Limited.

Regulatory Approvals

The approvals were granted under Regulation 28 of the SEBI LODR Regulations, 2015. Kaya had filed its in-principle application on August 12, 2026.

Issue Details

The preferential issue involves the following key parameters:

• Number of Shares: 18,24,150
• Face Value: ₹10 per share
• Issue Price: ₹274.10 per share
• Total Aggregation: ₹49,99,99,515
• Proposed Allottees: Axana Estates LLP and Plutus Investments India Private Limited

The company stated that the approval brings the proposed issuance closer to completion, subject to further procedural requirements.

Kaya Limited has revised the post-issue shareholding pattern and extended lock-in periods for its proposed preferential issue of 18,24,150 equity shares at ₹274.10 per share. The clarification, filed with BSE and NSE on September 29, 2026, addresses specific observations raised by the National Stock Exchange regarding the in-principle application.

The company confirmed that the post-issue shareholding pattern now accounts for outstanding Employee Stock Option Plans (ESOPs) of 5,39,739 equity shares. Consequently, the post-allotment shareholding percentage of the allottees has been revised on a fully diluted basis to reflect this dilution accurately.

Lock-in Period Extension

In response to regulatory queries concerning Regulation 167 of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, Kaya Limited extended the lock-in period for the pre-preferential shareholding of the concerned allottee. The deadline has moved from March 1, 2027, to March 31, 2027. This revision ensures compliance with applicable lock-in requirements for existing holdings prior to the new allotment.

The company emphasized that these changes are purely procedural and do not alter the fundamental terms of the deal. The number of equity shares proposed for allotment remains at 18,24,150, and the issue price is unchanged at ₹274.10 per share.

Shareholding Structure Details

The preferential issue involves two non-promoter entities: Axana Estates LLP and Plutus Investments India Private Limited. Axana Estates LLP will receive 8,45,009 shares, while Plutus Investments India Private Limited will receive 9,79,141 shares. The table below outlines the key shareholding metrics before and after the issue, including diluted figures.

Allottee Specifics

• Axana Estates LLP: Post-allotment holding stands at 17.25% (16.72% on a diluted basis). The ultimate beneficial owners include Mr. Mithun Padam Sacheti, Mr. Siddhartha Sacheti, Mr. Yash Siddhartha Sacheti, and Mr. Arpit Khandelwal.
• Plutus Investments India Private Limited: Post-allotment holding stands at 5.76% (5.58% on a diluted basis). The ultimate beneficial owners include Mr. Arpit Khandelwal, Mr. Suresh Chander Koolwal, and Mr. Ramesh Siyani.

What the Numbers Show

The inclusion of 5,39,739 outstanding ESOPs in the diluted calculation reduces the promoter group's effective stake from 45.91% to 44.50%. This shift highlights how employee stock options, when factored into the denominator, marginally dilute promoter control even when no new shares are issued to them directly. The revised lock-in extension to March 31, 2027, aligns the pre-existing holdings with the timeline of the new allotment, ensuring uniform regulatory compliance across the allottee's total stake.