Kaya Stock Jumps 4% as ₹75 Cr Preferential Allotment to Axana Estates Approved
By Ankur Chandra | Published at: Jun 26, 2025 12:00 PM IST
Mumbai, 26 June 2025: The shares of Kaya Ltd (BSE: 539276, NSE: KAYA) climbed 4.29% to ₹419.80 in early trading after the board greenlit a ₹75 crore preferential allotment to Axana Estates LLP. The deal involves issuing 20.90 lakh equity shares at ₹358.84 each, above the SEBI-prescribed floor price.
As of 11:38 AM IST on 26 June, shares of Kaya Ltd were trading at ₹422.60, marking a gain of ₹20.05 or 4.98% from the previous close. The stock opened at ₹422.65, which also marked the intraday high, while the day’s low stood at ₹409.95. The market capitalisation rose to ₹553.50 crore. Kaya’s stock has experienced significant volatility over the past year, with a 52-week high of ₹699.45 and a low of ₹204.43.
Preferential Allotment Details
| Particulars | Details |
|---|---|
| Number of shares | 20,90,068 |
| Face value | ₹10 |
| Issue price | ₹358.84 |
| Total consideration | ₹75,00,00,001 |
| Type of issuance | Preferential Allotment for Cash |
| Investor | Axana Estates LLP |
| Post-issue shareholding of investor | 13.74% |
| SEBI Regulation Referenced | Chapter V of SEBI (ICDR) Regulations, 2018 |
Shareholding Impact
| Investor | Pre-Issue Holding | Post-Issue Holding |
|---|---|---|
| Axana Estates LLP | Nil | 13.74% |
Board Sanctioned in Morning Session; EGM Next Month
The board approved the preferential allotment in a meeting held 10:17–10:30 AM IST on 26 June 2025. An Extraordinary General Meeting (EGM) is scheduled for 22 July 2025 to ratify the issuance.
Market Reaction – Share Price Rises Amid Solid Volume
| Value | |
|---|---|
| Last Traded Price (BSE) | ₹419.80 |
| % Change | +4.29% |
| Traded Volume | 1.79 lakh |
| Traded Value | ₹7.47 crore |
| 52-Week High | ₹699.45 |
| 52-Week Low | ₹204.43 |
| Market Cap | ₹549.83 crore |
| Free Float Market Cap | ₹221.98 crore |
Why It Matters – Cash Infusion and Investor Confidence
The capital injection is part of Kaya’s strategy to stabilise its finances under the ESM‑1 framework after eight straight loss‑making quarters. The premium issue signals Axana Estates’ confidence in Kaya’s turnaround and will bolster funds for key operational initiatives.
Beyond the Allotment – Kaya’s Recent Strategic Moves
Kaya has also been restructuring its global presence. In July 2024, it divested its Middle Eastern subsidiary, Kaya Middle East DMCC, to Humania GCC Holding, reflecting a shift towards focusing on its core Indian business.
Additionally, Kaya Skin Clinic’s UAE arm recently acquired full ownership of its Abu Dhabi clinic following regulatory changes in February 2023 efforts underscoring its regional consolidation.
Company Profile – Dermatology Chain Adapts Direction
Founded in 2003, Kaya offers dermatology and wellness services across India and the Middle East. It operates over 75 clinics in India and 23 in West Asia, alongside its Kaya Skin Bar retail format. Under stricter surveillance for prolonged losses, the company is pivoting towards stabilising its financials and operational model.
What’s Next – Capital Deployment and Future Outlook
Post-EGM, the preferentially allotted proceeds are expected to support:
- Operational improvements under ESM
- Debt reduction and improved liquidity
- Expansion initiatives such as clinic upgrades or service expansion
The next milestones include EGM approval, official allotment, and tracking how Kaya leverages these funds to revive profitability and shareholder trust.
REF: https://nsearchives.nseindia.com/corporate/KAYA_26062025104729_Upload.pdf
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