National Oxygen Board Approves ₹8.91 Cr Preferential Allotment to Saraf Housing

National Oxygen will issue 9.50 lakh equity shares at ₹93.80 per share to Saraf Housing Development Private Limited, raising ₹8.91 crore.
The company's authorized share capital will increase from ₹17.10 crore to ₹18.10 crore.

Reader Takeaway: Fundraise proceeds to bolster capital; shareholder nod critical for this move.

What just happened (today’s filing)

National Oxygen's Board of Directors has given the green light for a preferential allotment of 9.50 lakh equity shares to Saraf Housing Development Private Limited.

The issue price has been fixed at ₹93.80 per share, and the total funds expected to be raised amount to ₹8.91 crore.

This move necessitates an increase in the company's authorized share capital from ₹17.10 crore to ₹18.10 crore.

An Extra-Ordinary General Meeting (EGM) is scheduled for May 28, 2026, to seek shareholder approval for this preferential allotment.

Why this matters

The infusion of ₹8.91 crore will provide a capital boost for National Oxygen, potentially strengthening its financial footing.

This preferential issuance also signifies a move towards potentially consolidating or increasing the promoter group's stake in the company.

The backstory (grounded)

National Oxygen has a history of engaging with its promoters through preferential share issuances.

Most recently, on March 20, 2026, the company's board approved a similar preferential issue of up to 9,50,000 equity shares to Saraf Housing Development Private Limited.

Previously, in April 2024, approval was granted for issuing 2,40,114 equity shares to a promoter at a ₹120 premium.

What changes now

• The company will receive a capital injection of ₹8.91 crore.
• Authorized share capital will be enhanced by ₹1 crore to ₹18.10 crore.
• The promoter group's shareholding may see an increase.

Risks to watch

The preferential allotment is contingent on shareholder approval at the upcoming EGM.

Peer comparison

National Oxygen operates in the competitive Indian industrial gas market, which was valued at USD 3.60 billion in 2023.

Key players in this sector include Linde India Limited, Air Liquide India, INOX Air Products, and Ellenbarrie Industrial Gases.

Context metrics (time-bound)

What to track next

• Shareholder voting outcomes at the EGM on May 28, 2026.
• The company's utilization plans for the raised capital.
• Any subsequent announcements regarding the allotment process.