National Oxygen Board Approves 9.50 Lakh Equity Shares Preferential Issue
National Oxygen Limited's board meeting on March 20, 2026, approved the preferential issue of up to 9.50 lakh equity shares with face value of Rs. 10.00 each to promoter group company Saraf Housing Development Private Limited. The company appointed CA S Dehaleesan as registered valuer and approved opening a separate bank account for the issue process, ensuring compliance with SEBI ICDR Regulations 2018.
*this image is generated using AI for illustrative purposes only.
National oxygen Limited's board of directors has approved the preferential allotment of up to 9.50 lakh equity shares to promoter group company Saraf Housing Development Private Limited. The board meeting, held on March 20, 2026, concluded the fundraising proposal that was initially scheduled for consideration.
Board Meeting Outcome
The board meeting, which commenced at 4:00 PM and concluded at 4:30 PM on March 20, 2026, resulted in the approval of several key resolutions related to the equity fundraising initiative.
| Parameter: | Details |
|---|---|
| Approved Share Issue: | Up to 9.50 lakh equity shares |
| Face Value: | Rs. 10.00 per share |
| Allottee: | Saraf Housing Development Private Limited |
| Issue Method: | Preferential allotment |
| Regulatory Compliance: | SEBI ICDR Regulations, 2018 |
Key Appointments and Approvals
The board appointed CA S Dehaleesan as the registered valuer for determining the issue price of the preferential allotment. CA Dehaleesan holds the registered valuer number IBBI/RV/04/2019/11659 and will be responsible for price determination in accordance with SEBI regulations.
Additionally, the board approved the opening of a separate bank account specifically for the preferential issue process, ensuring proper segregation of funds and compliance with regulatory requirements.
Regulatory Framework and Compliance
The approved equity issue will be conducted under the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013. The issue price will be determined at not less than the price calculated in accordance with SEBI ICDR Regulations.
Saraf Housing Development Private Limited, being part of the promoter group, will be the sole recipient of the preferential allotment. The company has made the necessary disclosures under Regulation 30 of SEBI Listing Regulations and SEBI Circular dated July 13, 2023.
Company Operations
National Oxygen Limited operates as an ISO 9001:2015 certified manufacturer specializing in industrial and medical gases. The Chennai-based company manufactures liquid and gaseous oxygen, nitrogen, nitrous oxide, medical oxygen, and dissolved acetylene gas. With manufacturing facilities across Tamil Nadu and Puducherry, the company serves various industrial sectors under its tagline "Breathing Life Into Industry."
Historical Stock Returns for National Oxygen
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +3.70% | +2.48% | -7.38% | -43.45% | -40.96% | +97.27% |
How will National Oxygen Limited utilize the funds raised from this Rs. 9.5 crore preferential allotment for expanding its industrial and medical gas operations?
What impact could this promoter group funding have on National Oxygen's competitive position in the Tamil Nadu and Puducherry industrial gas markets?
Will the company consider additional fundraising rounds or explore public offerings to support further expansion beyond South India?
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