Seshachal Technologies Ltd has approved a preferential issue of 55,000 equity shares at ₹76 per share to raise ₹41.80 lakh. The shares will be allotted to two existing promoter group members, with the proceeds earmarked for long-term working capital and general corporate purposes. The proposal will be placed before shareholders at an Extraordinary General Meeting on October 19, 2026.
Seshachal Technologies Approves ₹41.80 Lakh Preferential Issue
Key Filing Number: ₹41.80 lakh proposed fundraising.
Key Filing Number: 55,000 equity shares at ₹76 per share.
Reader Takeaway: Promoter funding supports working capital, while fresh equity will marginally expand the share base.
What just happened
Seshachal Technologies Ltd has approved raising ₹41.80 lakh through a preferential issue of 55,000 equity shares.
The shares will be issued at ₹76 each, comprising a face value of ₹10 and a premium of ₹66 per share.
The proposed allotment will be made to promoter group members CH Narendra and CH Anitha, with each receiving 27,500 equity shares.
The company stated that the preferential issue will not result in any change in control or management.
Why this matters
The proceeds are intended for long-term working capital requirements and general corporate purposes.
The participation of existing promoter group members indicates that the capital infusion is being provided by insiders rather than external investors.
The issue price is above the calculated regulatory floor price of ₹75.02 per share, which was determined using the 90-trading-day volume-weighted average price with September 18, 2026 as the relevant date.
What changes now
The proposal requires shareholder approval through an Extraordinary General Meeting scheduled for October 19, 2026.
Remote e-voting will begin on October 16, 2026, end on October 18, 2026, and the voting cut-off date has been fixed as October 12, 2026.
The newly allotted shares will remain locked in for 18 months from the date of trading approval in accordance with applicable regulations.
Risks to watch
- Shareholder approval at the EGM.
- Completion of the preferential allotment.
- Deployment of proceeds toward working capital.
- Any impact from the increase in outstanding equity shares.
What to track next
Investors should monitor the EGM outcome, completion of the allotment process and subsequent regulatory filings confirming the issue of shares and receipt of funds.