Aequs544634Preferential allotment

Corrigendum to EGM Notice for proposed warrant issue to promoter on preferential basis

Aequs Ltd has issued a Corrigendum to the Notice of its Extra-Ordinary General Meeting.

By ScoutQuest · Fri 16 Oct 2026, 7:28 PM IST · 3 min read

18.4%Allottee shareholding preferential issue

Allottee shareholding preferential issue: 18.40%.

Floor Price per Warrant: INR 231.55/- per warrant
Post-Preferential Issue Shareholding (Allottee): 18.40%
Promoter & Promoter Group Shareholding (Pre to Post): 59.09% to 60.73%

Corrigendum to the EGM Notice

Aequs Ltd has issued a Corrigendum to the Notice of its Extra-Ordinary General Meeting (EGM Notice dated September 25, 2026). The EGM is to be held on Thursday, October 22, 2026, at 04:30 p.m. through Video Conferencing/Other Audio-Visual Means. The Corrigendum is to be read along with the EGM Notice and its explanatory statement, and forms an integral part of it; except as modified, the rest of the EGM Notice remains unchanged.

What Item No. 1 of the EGM Notice deals with

Item No. 1 seeks approval for the proposed offer, issue and allotment of warrants convertible into equity shares to Mellwood Trustee Services Private Limited (trustee of Mellieri Private Family Foundation), a promoter of the Company, on a preferential basis. The Corrigendum substitutes the details under two heads of the explanatory statement: the basis on which the price has been arrived at, and the percentage of post-preferential issue capital and the status of the proposed allottee.

How the price basis is explained

The equity shares of the Company were listed on NSE and BSE on December 10, 2025, and are frequently traded in terms of the SEBI ICDR Regulations.
Where shares are frequently traded, the minimum price at which the warrants may be allotted is the higher of the 90 trading days volume weighted average price or the 10 trading days volume weighted average price quoted on the stock exchange, preceding the relevant date.
The Articles of Association do not prescribe a specific method but require the price to be determined by the valuation report of a registered valuer; the Company has obtained a valuation report from Best Valuers Private Limited, a registered valuer entity.
Considering the highest of the applicable prices, including the valuation report, the floor price for the proposed preferential issue of warrants is INR 231.55/- per warrant.
A pricing certificate dated September 25, 2026 has been issued by M/s. AASI & Co. LLP, Practicing Company Secretaries.

Allottee and shareholding

The update sets out the current and proposed status of the proposed allottee

Status prior to allotment: Promoter; status post allotment: Promoter.
Equity shares held in the Company pre-preferential issue: 100,513,070
Shareholding in the Company pre-preferential issue: 14.99%
Total number of equity shares held in the Company post preferential issue: 128,584,760
Shareholding in the Company post preferential issue: 18.40%

The update adds two points to read the table with

The post-issue shareholding pattern assumes full exercise and conversion of all warrants and does not reflect the position immediately after allotment of the warrants, since the warrants do not carry voting rights.
The proposed allottee is a promoter of the Company. The pre-allotment shareholding held by the promoter and promoter group is 59.09%, which will increase to 60.73% pursuant to the conversion of all the warrants allotted into equity shares of the Company by the proposed allottee.

What a retail investor may take away

The Corrigendum is an update to the explanatory statement of an EGM that is yet to be held, so the resolution itself is still to be placed before shareholders. It gives the floor price of INR 231.55/- per warrant and shows the allottee's holding moving from 14.99% to 18.40% on the assumption of full exercise and conversion of all warrants, with the promoter and promoter group holding moving from 59.09% to 60.73% on conversion. Since a preferential issue of warrants convertible into equity shares to a promoter increases that promoter's stake, it can be viewed as a change in the shareholding pattern that shareholders may weigh when voting on the resolution.

Also from Aequs