Corrigendum to 34th AGM Notice: Preferential Issue Price Revised to Rs. 7.73 per Share

Corrigendum to the 34th AGM Notice (AGM on Sept 30, 2026, via VC).

Fri 25 Sep 2026

Shares to be issued

11,13,02,372 equity shares (revised from 11,02,42,980)

Issue price

Rs. 7.73 per equity share (revised from Rs. 7.80)

Aggregate issue size

Rs. 85,98,99,866 (revised from Rs. 85,98,95,244)

Ampivo stake acquired

66,212 shares representing 43.44% of Ampivo Smart Technologies

Promoter holding post-issue

48.21% (down from 65.82%)

What was shared

A corrigendum to the Notice of the 34th Annual General Meeting, which will be held on Wednesday, September 30, 2026 at 12:00 noon through video conferencing. The corrigendum forms an integral part of the AGM Notice and modifies Item No. 6, relating to the proposed preferential issue of equity shares.

Why it was needed

The company had applied to NSE and BSE for in-principle approval for the preferential issue. Both exchanges gave observations and directed the company to rectify or provide additional details through a corrigendum.

What changed

• Shares to be issued: from 11,02,42,980 to 11,13,02,372 equity shares
• Issue price: from Rs. 7.80 to Rs. 7.73 per equity share
• Premium: from Rs. 6.80 to Rs. 6.73 per share
• Aggregate issue size: from Rs. 85,98,95,244 to Rs. 85,98,99,866

Why the price changed

The original valuation used BSE trading data, giving Rs. 7.80 (higher of the 90-day VWAP of Rs. 7.80 and 10-day VWAP of Rs. 6.96). Following NSE's observation, Regulation 164 of SEBI ICDR requires the exchange with higher trading volume to be used. Over the 240 trading days before the Relevant Date of 31st August 2026, NSE volume was 27,51,27,107 shares (90.33% of outstanding) versus BSE's 6,88,44,747 shares (22.60%). On NSE data, the 90-day VWAP was Rs. 7.7258 (rounded to Rs. 7.73) and the 10-day VWAP Rs. 7.00, so Rs. 7.73 was adopted.

The Registered Valuer also computed Rs. 0.98 per share under the Income Approach and Rs. 1.12 under the Net Asset Value method; both being lower than the market approach value, 100% weightage was given to the Market Approach, concluding fair value at Rs. 7.73 per share.

What the shares buy

The allotment is for consideration other than cash, towards acquiring 66,212 equity shares of Ampivo Smart Technologies Private Limited, representing 43.44% of its equity share capital. Proposed allottees, all non-promoters, include Satyapoorna Chander Yalamanchili (10,08,60,000 shares of the company), S. Santhosh (4,77,404), Rohit Jethani (62,28,105), Sanjay Kumar Gupta (24,91,242) and Sharad Sharma (12,45,621).

Dilution

Assuming full allotment, promoter Kinex India Private Limited's holding stays at 20,04,78,565 shares but its stake moves from 65.82% to 48.21%. The company states the issue is not likely to result in a change in control, so no control premium was added under Regulation 166A.

Next step

Shareholders vote on the revised Item No. 6 at the AGM. The revised valuation report is available on the company's website for inspection.

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