Oscar Global approves ₹47.72 cr allotment deal 2026

Board clears preferential allotment plan

Oscar Global Limited (NSE: OSCARGLOB) said its board approved a preferential allotment of 4,77,16,400 equity shares at ₹10 per share on September 23, 2026. The company linked the issue to two parallel objectives: a 100% acquisition of Calculus Travel Ventures Private Limited through a share swap, and a cash raise from select allottees. At the approved price, the total consideration aggregates to ₹47.7164 crore.

The company’s disclosures also connect the transaction to a broader change in management and control. The note in the material points to share purchase agreements and a mandatory open offer framework, indicating a complete change in promoter shareholding.

Preferential issue: size, price, and total value

The preferential allotment involves 4,77,16,400 equity shares priced at ₹10 each. This results in a total value of ₹47.7164 crore. The transaction structure splits the consideration between non-cash settlement for the acquisition and fresh cash infusion into the company.

From an investor’s perspective, the approved issue price is the same as the price referenced in the open offer item described alongside the allotment. But the disclosure primarily frames the preferential issue as a mechanism to execute the Calculus acquisition and to raise additional funds.

Share swap to acquire Calculus Travel Ventures

Oscar Global stated that ₹34.51 crore of the total consideration will be discharged through a share swap to complete the 100% acquisition of Calculus Travel Ventures Private Limited. The company described this as an equity-settled transaction, using the preferential allotment shares as the swap consideration.

The announcement positions the acquisition as the central purpose of the preferential issue. Since the company specifies the acquisition is 100%, the post-transaction structure implies Calculus becomes a wholly owned entity of Oscar Global once the share swap is completed.

Cash raise from non-promoter allottees

Alongside the share swap, Oscar Global said it will raise ₹13.2064 crore in cash. This amount is to come from non-promoter allottees under the same preferential allotment exercise.

The split between the share swap and the cash leg is explicitly quantified in the disclosure. The company does not provide additional deployment details in the provided text, but it clearly distinguishes the acquisition consideration from the capital raised through cash subscriptions.

Open offer triggered for 3.60% at ₹10

The update also references an open offer for a 3.60% stake at ₹10 per share. It states that JBCG Advisory triggered an open offer for 18,36,696 shares (3.60%) at ₹10 per share.

It further notes that the acquirer will hold 70.50% of the emerging equity capital post-transactions. The disclosure frames this as part of the larger change in management and control, and it links the outcome to mandatory open offer requirements.

Promoter exit and the change in control

Oscar Global’s promoter entities, Kanika Audio Visuals Private Limited and Akanksha Viniyog Ltd, have completed divestment of their entire 31.30% shareholding through an off-market transaction and open offer, according to the note. The transaction was governed by a Share Purchase Agreement (SPA) dated September 30, 2025, and was completed on March 30, 2026.

The company stated this resulted in the sale of 10,32,591 shares and reduced the promoters’ stake to nil. The material explicitly describes the mode as “Off Market transaction and Open Offer,” and it highlights that this process led to a complete change in promoter shareholding.

Earlier ownership shift and the January 2026 open offer outcome

The disclosure also outlines an earlier ownership shift in which the promoter group’s stake changed following an off-market acquisition of 4,14,112 shares. After that deal, promoters’ total holding was stated as 10,32,591 shares, or 31.30% of the company’s diluted share capital, compared with a previous holding of 14,46,703 shares (43.84%).

Separately, it references a mandatory open offer by Gopal Bhattar and Gopal Bhattar HUF that ran from January 02 to January 16, 2026. That offer targeted up to 8,58,000 equity shares (26%) at ₹12.15 per fully paid-up share. The post-offer advertisement published on February 02, 2026 reported minimal response: 201 shares tendered against the target of 8,58,000. Consideration payment was completed on January 30, 2026, and the acquirers’ shareholding increased marginally from 43.84% to 43.85%.

Key facts at a glance

Open offer metrics from the January 2026 process

Why the latest transaction matters

The September 23, 2026 preferential allotment combines a control and ownership transition with a corporate acquisition mechanism. The company has tied the issuance of equity directly to acquiring Calculus Travel Ventures through a share swap, while also raising cash from non-promoter allottees.

The surrounding open offer references and the stated post-transaction holding of 70.50% underline that the equity issuance and related agreements are part of a broader control realignment. The disclosure also provides context that the earlier open offer in January 2026 saw very low participation, which is relevant when tracking how much public shareholding actually changes during such processes.

Conclusion

Oscar Global’s board-approved preferential allotment of 4,77,16,400 shares at ₹10 sets up a ₹47.7164 crore transaction package that includes a ₹34.51 crore share swap for the 100% acquisition of Calculus Travel Ventures and a ₹13.2064 crore cash raise. The accompanying disclosures also tie the transactions to a change in management and control, including open offer processes and a complete promoter exit completed on March 30, 2026 under the September 30, 2025 SPA.

Investors are likely to track the execution of the share swap for Calculus, the completion mechanics of the cash allotment to non-promoter investors, and the outcomes of the open offer referenced at ₹10 per share, given the stated post-transaction holding of 70.50% of emerging equity capital.