Saakshi Medtech EOGM Set for June 2 to Approve Capital Hike & Laxmi Stake
Saakshi Medtech & Panels announced an EOGM on June 2, 2026, to approve increasing authorised share capital to Rs. 25 crore and a preferential issue of 20,22,940 shares at Rs. 207 each. The issuance, totaling Rs. 41.87 crore, is a share swap to acquire a 34.41% stake in Laxmi Engineering Industries Bhopal Pvt Ltd, a heat transfer equipment manufacturer with a provisional turnover of Rs. 20.29 crore in 2025-26.
*this image is generated using AI for illustrative purposes only.
Saakshi Medtech & Panels has scheduled an Extraordinary General Meeting (EOGM) on June 2, 2026, at 3:00 p.m. via Video Conferencing to seek shareholder approval for increasing its authorised share capital and issuing equity shares on a preferential basis. The preferential issue involves a share swap to acquire a 34.41% equity stake in Laxmi Engineering Industries Bhopal Pvt Ltd for a total consideration of INR 41.87 crore.
Authorised Share Capital Increase
The board proposes to increase the authorised share capital from Rs. 18,00,00,000 divided into 1,80,00,000 equity shares to Rs. 25,00,00,000 divided into 2,50,00,000 equity shares of Rs. 10 each. This alteration requires a consequential change to the Capital Clause of the Memorandum of Association and is subject to member approval via an ordinary resolution.
Preferential Issue and Acquisition Details
The company plans to issue 20,22,940 fully paid-up equity shares at a price of Rs. 207 per share (including a premium of Rs. 197) to the shareholders of Laxmi Engineering Industries Bhopal Pvt Ltd. The consideration is other than cash, specifically a swap of shares, wherein Saakshi Medtech will acquire 23,92,850 equity shares representing 34.41% of the target company. The relevant date for determining the pricing formula was April 30, 2026.
| Parameter | Details |
|---|---|
| Total Shares Issued | 20,22,940 |
| Issue Price | Rs. 207 per share |
| Aggregate Amount | Rs. 41,87,48,580 |
| Target Stake | 34.41% |
| Consideration | Share Swap |
Proposed Allottees
The issue is open to 51 non-promoter allottees who are shareholders of the target company. Notable allottees include Pratham Prasoon, Naresh Saraaf, Praful Kumar, and Snehal Bhupendra Shah. Post-issue, these shareholders will hold significant stakes in Saakshi Medtech, with Pratham Prasoon holding 1.20% and Naresh Saraaf holding 0.74%.
About Laxmi Engineering Industries
Laxmi Engineering Industries Bhopal Pvt Ltd (LEI) is an engineering company engaged in the design and manufacturing of heat transfer equipment. Its product portfolio includes shell and tube heat exchangers, air-cooled heat exchangers, and pressure vessels used in power, oil & gas, and chemical sectors. The company, established in 1987 and converted to a private limited company in 2007, counts BHEL, NTPC, and L&T among its clients. Its turnover for the provisional year 2025-26 was Rs. 20.29 crore.
The acquisition is described as a strategic investment to expand Saakshi Medtech's presence in the broader engineering ecosystem. The EOGM also includes the appointment of M/s. Jay Pandya & Associates as the Scrutinizer for the e-voting process.
Historical Stock Returns for Saakshi Medtech & Panels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.86% | -0.62% | +12.05% | +27.99% | +78.27% | +51.99% |
Will Saakshi Medtech & Panels seek to acquire a majority controlling stake in Laxmi Engineering Industries beyond the initial 34.41% in subsequent tranches?
How might the integration of LEI's heat transfer equipment business impact Saakshi Medtech's revenue mix and margin profile over the next 2-3 years?
Could the promoter shareholding dilution from 74.82% to 67.13% trigger further equity dilution if additional acquisitions are pursued within the industrial engineering space?
16
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
