EFCIL Approves Preferential Issue of 20 Lakh Shares at ₹270 Each for Ultrafresh Acquisition
EFC (I) Limited's board approved a preferential issue of up to 19,99,996 equity shares at ₹270 each, totaling approximately ₹53.99 crore. This is for acquiring 100% of Ultrafresh. The approval is subject to shareholder and regulatory clearances.
The preferential issue and acquisition are material events that could impact the company's capital structure, ownership, and future business operations, warranting a medium impact.
The company is undertaking a significant acquisition funded by a preferential issue, which is generally viewed positively as it indicates growth and strategic expansion.
EFC (I) Limited has announced the approval of a preferential issue of up to 19,99,996 equity shares, each with a face value of ₹2, at a price of ₹270 per share. This issuance is intended for the sellers as consideration for the acquisition of 100% stake in Ultrafresh on a fully diluted basis.
The Board of Directors of EFC (I) Limited approved this move during their meeting held on August 18, 2026. The issuance is subject to shareholder and regulatory approvals, including those from the Companies Act, 2013, and SEBI ICDR Regulations.
The company has obtained a valuation report for the proposed acquisition of Ultrafresh from Mr. Mukesh Kumar Jain, an IBBI Registered Valuer, and a fairness opinion from Rarever Financial Advisors, a SEBI registered Category-I Merchant Banker. Deloitte Touche Tohmatsu India LLP has also independently carried out the fair valuation of the company.
The total value of the preferential issue is approximately ₹53.99 crore. The proposed allottees include TTK Prestige Limited, Dhruv Dinesh Trigunayat, Priya Trigunayat, D Sharma & Sons (HUF), Rahul Mangilal Jain, Pranav Malhotra, Aruna Sharma, Nishi Sharma, and Sonal Ravikumar Mehta, all categorized as Non-Promoters.
What to do with a filing like this
EFC (I) Limited filed this with the NSE as a statutory disclosure, categorised under preferential allotment. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by EFC (I) Limited. Read the original for the full detail.