EGM on 17 October 2026 to seek approval for 3,50,000 convertible warrants to promoters at Rs. 177 each
An EGM is called for Saturday, 17th October, 2026 at 12:30 P.M. via video conferencing.
By ScoutQuest · · 2 min read
- EGM Date
- Saturday, 17th October, 2026 at 12:30 P.M.
- Warrant Quantity
- Up to 3,50,000 convertible warrants
- Issue Price per Warrant
- Rs. 177/- per Warrant (face value Rs. 10/- + premium Rs. 167/-)
- Aggregate Consideration
- Up to Rs. 6,19,50,000/-
- Payment Terms
- 25% payable on allotment, 75% on exercise; exercisable within 18 months
What is being proposed
The company has convened an Extra-Ordinary General Meeting on Saturday, 17th October, 2026 at 12:30 P.M. through video conferencing / other audio-visual means. The single special business is a special resolution to issue and allot, on a preferential basis, up to 3,50,000 convertible warrants to the Promoter and Promoter Group.
Pricing and size
- Each warrant carries the right to subscribe to one equity share of face value Rs. 10/-.
- Issue price: Rs. 177/- per Warrant, including a premium of Rs. 167/- per Warrant.
- Aggregate consideration not exceeding Rs. 6,19,50,000/-.
- The Relevant Date for pricing is 17th September, 2026; a valuation report from a Registered Valuer has been taken on record.
Payment and conversion terms
- 25% of the warrant issue price is payable at subscription and allotment.
- The balance 75% is payable at the time of exercise.
- Warrants must be exercised within 18 (Eighteen) months of allotment, in one or more tranches; otherwise they lapse and the amount already paid stands forfeited by the company.
- Warrants carry no dividend or voting rights until equity shares are allotted; the resulting shares will rank pari passu with existing shares.
- Warrants and the resulting shares are subject to lock-in under Chapter V of the SEBI ICDR Regulations and cannot be sold, transferred, hypothecated or otherwise encumbered during that period.
- Conversion is to be done so as to keep the company compliant with minimum public shareholding requirements. The company will apply to BSE for in-principle, listing and trading approvals.
Voting details
- Cut-off date for voting eligibility: 10th October, 2026.
- Remote e-voting: 09:00 A.M. on 14th October, 2026 to 05:00 P.M. on 16th October, 2026, through CDSL.
- Results to be announced on or before Monday, 19th October, 2026.
- A Practising Company Secretary has been appointed as Scrutinizer.
How investors may read it
Preferential warrants to promoters bring fresh capital into the company, with only a quarter paid upfront and the rest dependent on exercise within 18 months. If fully converted, new equity shares will be created, which increases the share count and can dilute existing shareholders while raising promoter holding. The resolution requires shareholder approval by special resolution before anything is allotted.
Also from Choksi Laboratories
Clarification on delayed EGM proceedings submission; company cites technical reasons
21 Oct 2026
Shareholders do not approve proposed preferential issue of convertible warrants
19 Oct 2026
EGM proceedings: convertible warrant preferential issue put as special resolution; promoters abstained
18 Oct 2026
More numbers
- Convertible warrants proposed3,50,000 convertible warrants
- Issue price per warrantRs. 177/- per Warrant
- Premium per warrantRs. 167/- per Warrant
- Face value per equity shareRs. 10/-
- Aggregate considerationRs. 6,19,50,000/-
- Payable on allotment25% (Twenty-Five Percent)
- Payable on exercise75% (Seventy-Five Percent)
- Exercise period from allotment18 (Eighteen) months
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