Kontor Space board approves preferential allotment to raise funds
Kontor Space Limited's board approved the preferential allotment of 16.85 lakh equity shares and 13.15 lakh warrants at ₹75 each to raise funds. An EOGM is scheduled for July 10, 2026, to approve the fund raise and the appointment of Jessica Gandhi as an Independent Director. The shareholding pattern will see promoter Kanak Mangal's stake reduce to 51.56% post-issue.
*this image is generated using AI for illustrative purposes only.
Kontor Space Limited has approved a plan to raise funds through the preferential allotment of equity shares and warrants. The board decided to issue 16,85,000 preferential equity shares to non-promoters and 13,15,000 convertible warrants to promoters and non-promoters. The issue price is fixed at ₹75 per security, comprising a face value of ₹10 and a premium of ₹65, in accordance with SEBI regulations.
Preferential Allotment Details
The preferential issue includes 16.85 lakh equity shares ranking pari-passu with existing shares and 13.15 lakh warrants. Each warrant carries a fixed conversion ratio of one warrant to one equity share. The allotment targets specific investors across promoter and non-promoter categories.
| Allottee | Shares | Warrants | Category |
|---|---|---|---|
| Kanak Mangal | - | 7,15,000 | Promoter |
| Satyen J Mamtora | 6,75,000 | - | Non-Promoter |
| Arron Insurance Brokers Private Limited | 6,75,000 | - | Non-Promoter |
| Savas Engineering Company Private Limited | 3,35,000 | - | Non-Promoter |
| M/s. Trisha Venture LLP | - | 5,00,000 | Non-Promoter |
| Mrs. Aruna Chanchal Singh Rajora | - | 1,00,000 | Non-Promoter |
Shareholding Pattern
The issuance will alter the company's shareholding structure. Post-allotment, assuming full conversion of warrants, promoter Kanak Mangal's holding will decrease to 51.56% from 65.02%. New shareholders such as Satyen J Mamtora and Arron Insurance Brokers Private Limited will hold 7.35% each.
| Investor | Pre-Allotment % | Post-Allotment % |
|---|---|---|
| Kanak Mangal | 65.02% | 51.56% |
| Satyen J Mamtora | - | 7.35% |
| Arron Insurance Brokers Private Limited | - | 7.35% |
| Savas Engineering Company Private Limited | - | 3.65% |
| M/s. Trisha Venture LLP | - | 5.45% |
| Aruna Chanchal Singh Rajora | - | 1.09% |
EOGM and Other Approvals
The board has fixed July 10, 2026, as the date for the Extraordinary General Meeting (EOGM) to seek shareholder approval for the fund raise. Additionally, the board proposed the regularization of Ms. Jessica Gandhi as an Independent Director-Woman and appointed Vishal Manseta as the Secretarial Auditor, subject to shareholder consent. Roy Jacob & Co was appointed as the scrutinizer for the e-voting process. The board also deferred a proposal regarding investment in Wybrid Technology Private Limited.
Historical Stock Returns for Kontor Space
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.58% | -12.14% | -11.94% | -10.61% | -26.57% | -49.09% |
How does Kontor Space Limited plan to utilize the approximately ₹22.5 crore raised through this preferential allotment?
What are the strategic implications of the significant dilution in promoter Kanak Mangal's stake from 65.02% to 51.56%?
When is the expected timeline for the conversion of the 13.15 lakh warrants, and how will this impact future equity dilution?
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