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29 Mar 2026
Midwest Gold Limited's Board of Directors has successfully completed the allotment of 4,50,750 equity shares on preferential basis, marking a significant capital raising exercise for the company. The board meeting held on March 29, 2026, approved the allotment at a premium issue price of ₹2,000 per share.
Allotment Details and Pricing
The company allotted 4,50,750 equity shares of ₹10 each at an issue price of ₹2,000 per share on preferential basis. The allotment was made in accordance with Chapter V of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the provisions of the Companies Act, 2013. The equity shares allotted rank pari passu in all respects with the existing equity shares of the company.
Parameter Details Total Shares Allotted 4,50,750 Face Value per Share ₹10 Issue Price per Share ₹2,000 Total Consideration ₹901.50 crore Number of Allottees 35
Category-wise Distribution
The preferential allotment was distributed across three categories of investors. The promoter category received the largest allocation with Soumya Kukreti being allotted 2,00,000 shares for a consideration of ₹40.00 crore. The promoter group category included Tara Rani Kollareddy with 3,750 shares and Guntaka Ravindra Reddy with 1,250 shares.
The public category comprised 32 allottees with varying share allocations. Notable allocations in the public category include:
Srinidhi Duggirala: 75,000 shares (₹15.00 crore)
Karthik Amar Duggirala: 75,000 shares (₹15.00 crore)
Harpreet Kaur Sarna: 45,000 shares (₹9.00 crore)
Hareesh Karonnin Thaliyan Veedu: 5,000 shares (₹1.00 crore)
Kantheti Karthik: 5,000 shares (₹1.00 crore)
Madhu Avirneni: 5,000 shares (₹1.00 crore)
Impact on Share Capital
Following the preferential allotment, the company's capital structure has been strengthened significantly. The issued and paid-up equity share capital increased from 1,20,47,946 equity shares of ₹10 each to 1,24,98,696 equity shares of ₹10 each, representing an increase of 4,50,750 shares.
Capital Structure Before Allotment After Allotment Number of Equity Shares 1,20,47,946 1,24,98,696 Face Value per Share ₹10 ₹10 Status Fully Paid Up Fully Paid Up
Regulatory Approvals and Compliance
Midwest Gold Limited received in-principle approval from BSE Limited on March 25, 2026, for the issuance of equity shares on preferential basis. The company has indicated that it will apply for listing and trading approval from the stock exchange for these equity shares in due course. The board meeting commenced at 5:00 PM and concluded at 5:30 PM on March 29, 2026, with all necessary approvals being granted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Midwest Gold Limited has formally notified BSE Limited regarding the appointment of Mr. Girdhar Agarwal as Company Secretary and Compliance Officer, effective March 17, 2026. The notification, dated March 18, 2026, follows the Board of Directors' approval at their meeting held on March 17, 2026, based on the recommendation of the Nomination and Remuneration Committee.
Key Appointment Details
Mr. Girdhar Agarwal has been designated as Key Managerial Personnel pursuant to Section 203 of the Companies Act, 2013, and will also serve as the Compliance Officer under Regulation 6(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Parameter: Details Name: Mr. Girdhar Agarwal Membership Number: ACS: 79826 Appointment Date: March 17, 2026 Reason for Change: Appointment Relationship with Directors: NIL
Professional Background
Mr. Agarwal brings relevant experience to his new role at Midwest Gold Limited. He is an Associate member of the Institute of Company Secretaries of India and holds a Graduate degree. His professional experience spans over 3 years in dealing with secretarial compliances of both listed and unlisted companies.
Board Meeting Details and Authorization
The Board meeting commenced at 03:45 PM and concluded at 04:15 PM on March 17, 2026. Under Regulation 30(5) of the Listing Regulations, Mr. Agarwal has been authorized by the Board to make disclosures to stock exchanges regarding material events or information.
Contact Details: Information Designation: Company Secretary & Compliance Officer Contact Number: 9664306167 Email ID: girdharagarwalhealth95@gmail.com
Regulatory Compliance
The appointment has been made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023. The formal notification was signed by Baladari Satyanarayana Raju, Whole Time Director (DIN: 01431440), strengthening the company's compliance framework and ensuring adherence to regulatory requirements under both the Companies Act, 2013, and SEBI regulations.
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