News Corporate Actions NDA Securities Board Approves Revised Preferential Issue Following Exchange ConcernsNDA Securities Board Approves Revised Preferential Issue Following Exchange Concerns
NDA Securities has finalized its revised preferential issue plan following regulatory concerns from stock exchanges. The board approved issuing 1.70 crore equity shares at Rs. 37 per share, totaling Rs. 62.90 crore, to existing promoter group members instead of new group companies to avoid control change implications.
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NDA Securities Limited has finalized its revised preferential issue plan following regulatory concerns, with the board formally approving a modified structure that allocates shares to existing promoter group members rather than new group companies.
Board Meeting Outcome
The company's board meeting held on March 05, 2026, formally approved the issuance of up to 1.70 crore equity shares of face value Rs. 10 each at an issue price of Rs. 37 per share, aggregating Rs. 62.90 crore. This represents a reduction from the originally proposed 1.75 crore shares at Rs. 36.60 per share worth Rs. 64.05 crore, as initially approved in the February 18, 2026 board meeting.
| Parameter: | Original Proposal | Revised Proposal |
|---|---|---|
| Number of Shares: | 1.75 crore | 1.70 crore |
| Issue Price per Share: | Rs. 36.60 | Rs. 37.00 |
| Total Issue Size: | Rs. 64.05 crore | Rs. 62.90 crore |
| Relevant Date: | February 16, 2026 | February 13, 2026 |
Allottee Structure
The revised allocation structure includes both promoter and non-promoter categories, with the key change being the replacement of group companies with existing promoter individuals:
| S. No.: | Allottee Name | Category | Shares Allocated |
|---|---|---|---|
| 1: | Ram Gopal Jindal | Promoter | 59,00,000 |
| 2: | Gaurav Jindal | Promoter Group | 50,00,000 |
| 3: | Regenci Wealth Management & Advisory Private Limited | Non-Promoter | 17,00,000 |
| 4: | Osgood Tie-up Private Limited | Non-Promoter | 17,00,000 |
| 5: | Navigating Merchants Private Limited | Non-Promoter | 10,00,000 |
| 6: | Blackburg Asset Management Private Limited | Non-Promoter | 17,00,000 |
| Total: | 1,70,00,000 |
Exchange Regulatory Concerns
The revision became necessary after stock exchanges raised concerns about the original proposal. The company had initially planned to allot shares to Titanium Holdings India Private Limited and BIR Foods & Restaurants Private Limited, both group companies. However, when NDA Securities applied to BSE, NSE, and Metropolitan Stock Exchange for inclusion of these entities in the promoter group, the exchanges advised that such inclusion would constitute a change in control requiring separate approvals.
Technical and Regulatory Adjustments
The board revised the relevant date for issue price determination from February 16, 2026, to February 13, 2026, in compliance with Regulation 161 of the SEBI ICDR Regulations. The new relevant date considers March 16, 2026, as the date for the Extra-ordinary General Meeting. A revised valuation report has been issued by Manish Manwani, CS & Registered Valuer, forming the basis for the updated issue price.
Compliance and Next Steps
The company will issue a corrigendum to the EGM notice incorporating these changes and stock exchange instructions. The preferential issue remains subject to approval from company members and other statutory and regulatory approvals as required. The issuance will be conducted in accordance with the Companies Act, 2013, and SEBI ICDR Regulations, 2018. The board meeting commenced at 1:00 PM and concluded at 1:08 PM on March 05, 2026, with authorization granted to settle any questions or difficulties arising from the preferential issue process.
Historical Stock Returns for NDA Securities
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.81% | -10.13% | +18.94% | -20.04% | +19.89% | +485.45% |
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