Board meeting on Oct 7 to consider converting promoter's preference shares and Rs. 15,00,00,000 loan into equity

varying the terms of 6,92,480 1% Redeemable Non-Cumulative Preference Shares of Rs. 100/- each held by him so as to render them convertible into equity shares, and the subsequent conversion.

Sat 3 Oct 2026

Board meeting date

October 7, 2026

Preference shares

6,92,480 1% Redeemable Non-Cumulative Preference Shares of Rs. 100/- each

Unsecured loan

Rs. 15,00,00,000/-

Trading window closure

from September 30, 2026 until announcement of financial results for quarter and half year ended September 30, 2026

Batliboi has informed the exchanges that a meeting of its Board of Directors is scheduled for October 7, 2026. The notice is a prior intimation: the items are placed for the Board to consider and approve, and any decision would follow the meeting.

What the Board will consider

• Variation of the terms of 6,92,480 1% Redeemable Non-Cumulative Preference Shares of Rs. 100/- each held by Mr. Nirmal Bhogilal, Promoter and Chairman of the Company, so as to render the same convertible into equity shares, and the subsequent conversion thereof into equity shares.
• Conversion of the unsecured loan of Rs. 15,00,00,000/- extended by Mr. Nirmal Bhogilal into equity shares of the Company.
• Issue and allotment of equity shares of the Company on a preferential basis, for consideration other than cash, pursuant to the two items above, subject to such regulatory/statutory approvals, including the approval of the shareholders of the Company, as may be required.

The two figures in the notice

• 6,92,480 preference shares, each of face value Rs. 100/-, carrying a 1% coupon and redeemable and non-cumulative in nature.
• Rs. 15,00,00,000/- is the amount of the unsecured loan extended by the promoter.

What these instruments are, in simple terms

• Preference shares normally carry a fixed dividend and generally do not carry voting rights like equity shares. The proposal is to change their terms so that they can be converted into equity shares, and then to convert them.
• An unsecured loan conversion means that instead of the company repaying the loan in cash, the lender receives equity shares.
• A preferential issue for consideration other than cash means equity shares are allotted without any cash payment coming into the company; here the consideration would be the preference shares and the unsecured loan referred to above.
• Since the proposals involve the promoter, the update states they are subject to regulatory/statutory approvals, including the approval of the shareholders.

Trading window

• In reference to an earlier intimation dated September 29, 2026, the trading window for dealing in the securities of the Company remains closed from Wednesday, September 30, 2026.
• It will continue to remain closed until the announcement of the financial results for the quarter and half year ended September 30, 2026, both days inclusive, for all designated persons.

Taken together, all three items relate to the same promoter and to equity shares being issued for a consideration other than cash.

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