Prakash Bhoorchand Shah acquired 18,00,000 shares, representing a 17.58% stake in New Markets Avenue Limited , through a preferential allotment on August 13, 2026. The transaction significantly alters the company’s shareholding structure.

The acquisition was disclosed under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Shah, who is not part of the promoter group, moved from a zero holding to a substantial minority position in a single transaction.

Transaction Details

The deal involved the issuance of new equity shares rather than an open market purchase or inter-se transfer. The total equity share capital of the company remained unchanged at 1,02,40,000 equity shares of ₹10 each before and after the acquisition, indicating that the allotment likely involved fresh issuance or a specific corporate action structure that did not alter the total authorized capital count in this specific filing context, or the pre-acquisition capital figure cited reflects the base before this specific block.

Shah held no voting rights, warrants, or convertible securities in the target company prior to this transaction. Post-acquisition, his total holding stands at 18,00,000 shares carrying voting rights, with no encumbrances reported.

What the Numbers Show

The acquisition represents a concentrated entry into the company’s capital structure. By securing nearly one-fifth of the voting power through a preferential allotment, Shah has established a significant influence position without crossing the 25% threshold that typically triggers mandatory open offer obligations under SEBI regulations, assuming no other persons acting in concert (PAC) are involved. The absence of prior holdings suggests this is a new strategic investment rather than an accumulation of existing positions.

New Markets Avenue Limited will hold a Board of Directors meeting on August 25, 2026, to transact business including the appointment of an additional independent director. The meeting is scheduled at the company's registered office in Mumbai.

The agenda includes considering the appointment of Himanshu Khatri (DIN: 08974992) as an additional director in the capacity of a Non-Executive Independent Director. This move aligns with regulatory requirements for board composition under SEBI listing obligations.

Key Agenda Items

The Board has listed three primary items for discussion during the session:

• Appointment of Himanshu Khatri as an additional Non-Executive Independent Director.
• Approval for the purchase of a software license from Mizzen Digital Private Limited.
• Any other business with the permission of the Chair.

The company, formerly known as New Markets Advisory Limited, issued the intimation on August 21, 2026, pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kishore Kanhialal Jain, Whole Time Director, signed the communication addressed to the Bombay Stock Exchange.