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.

Esaar (India) Ltd has scheduled its 74th Annual General Meeting for Wednesday, September 30, 2026. The meeting will include a special resolution to approve loans and guarantees of up to ₹100 crore to group entities.

The company notified the Bombay Stock Exchange on September 7, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation complies with General Circulars issued by the Ministry of Corporate Affairs dated April 8, 2020, April 13, 2020, and May 5, 2020.

Meeting Details

The notice and annual report for the financial year ended March 31, 2026, are available on the company website and stock exchange portals. Members holding shares as on the cut-off date of September 4, 2026, are eligible to participate. Remote e-voting facilities have been engaged through National Securities Depository Limited.

Agenda Highlights

The meeting will transact ordinary business, including the adoption of audited financial statements for FY26. Additionally, Mr. Bipin Dinesh Varma, Director (DIN: 05353685), retires by rotation and offers himself for reappointment.

The special business involves a resolution under Section 185 of the Companies Act, 2013. Shareholders will be asked to approve the Board’s authority to advance loans, provide guarantees, or offer security to subsidiaries, associates, joint ventures, or other interested entities. The aggregate amount for these exposures is capped at ₹100 crore at any point in time.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE404L01039/2ebb23cd-c4fc-4568-bc71-edbed2ce7db4.pdf