EGM notice corrigendum: one allottee excluded, warrant issue cut to 15,52,100
Ecofinity Atomix has issued a corrigendum to its EGM notice dated 13 October 2026; the EGM is on 4 November 2026.
By ScoutQuest · · 3 min read
- Warrants Revised
- from 15,87,100 to 15,52,100
- Issue Size Revised
- from Rs.11,18,90,550 to Rs.10,94,23,050
- Issue Price
- Rs.70.50 per warrant
A corrigendum rewrites part of an EGM notice that had already gone out. Here the correction is narrow: one proposed investor is dropped and the preferential warrant issue becomes slightly smaller.
What triggered the change
The Company had issued its EGM notice on 13 October 2026 for the 02/2026-27 Extra-Ordinary General Meeting on Wednesday, 4 November 2026 at 4:00 P.M. through Video Conferencing / Other Audio-Visual Means. Item No. 2 of that notice was a special resolution for a preferential issue of convertible equity warrants.
- Mr. Prahladbhai Bhaychanddas Patel was listed at Sr. No. 12 in the Non-Promoter Category for 35,000 convertible equity warrants.
- He sold equity shares of the Company during the 90 trading days preceding the Relevant Date, i.e. Monday, 5 October 2026.
- Under Regulation 159(1) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, a preferential issue cannot be made to a person who has sold or transferred equity shares of the issuer during the 90 trading days preceding the relevant date. He is therefore ineligible.
- The Board of Directors, at its meeting held on 3 November 2026, approved his exclusion from the list of proposed allottees and the consequential reduction in the size of the issue.
What changes in the resolution
- Number of convertible equity warrants: from 15,87,100 to 15,52,100.
- Number of allottees: from Eighteen to Seventeen.
- Aggregate consideration: from Rs.11,18,90,550 to Rs.10,94,23,050.
- The issue price of Rs.70.50 per warrant, including a premium of Rs.60.50 per warrant, stays the same.
- The Relevant Date of Monday, 5 October 2026, the objects of the issue and the terms of the warrants remain unchanged.
Who receives the warrants now
Promoter Category: Prafullchandra Vitthalbhai Patel 2,70,000, Jashvantbhai Shankarlal Patel 90,000, Hiren Patel 63,000. Non-Promoter Category includes Surendra Nemchand Shah HUF 2,25,000, Priyam Shah (HUF) 2,01,000, Patel Shivlal Kuberbhai 1,50,000, Dilipkumar Ramjibhai Patel 1,50,000, Krunal Prafulbhai Thummar 1,50,000, Priyam Surendra Shah 75,000, Pooja Priyam Shah 50,000, Indu Omprakash Bhandari 45,000, Sarita Shyam Sundar Nirmal 39,000, Pasiben Prahladbhai Patel 35,000, Ila Sunil Trivedi 3,100, Deepak Satish Mehta 2,500, Jignaben Shah 2,000 and Gandhi Pakshal Bhaver 1,500.
Shareholding picture
- Pre-issue percentages are on the existing paid-up capital of 69,62,900 equity shares; post-issue percentages assume full conversion and a post-issue fully diluted capital of 85,15,000 equity shares.
- Promoter and Promoter Group (Indian individuals): 26,33,960 shares (37.83%) pre-issue, rising to 30,56,960 shares (35.90%) post-issue.
- Indian Public: 36,08,865 shares (51.83%) pre-issue, 47,37,965 shares (55.64%) post-issue.
- Surendra Nemchand Shah HUF post-issue holding is stated as 4,47,348 shares (5.25%) and Priyam Shah (HUF) as 3,26,000 shares (3.83%).
What it means for the EGM
- The corrigendum forms an integral part of the 13 October 2026 notice and must be read with it.
- Votes already cast through remote e-voting on Item No. 2 will be treated as votes on the resolution as modified by the corrigendum.
- The change is limited to the exclusion of one ineligible allottee and the resulting smaller issue; everything else in the notice stands.
How to read it
The trigger is a regulatory ineligibility, not a change of plan by the Company: a proposed buyer had traded the shares within the prohibited window. The practical effect is arithmetic — one allottee and 35,000 warrants fewer, and an aggregate consideration smaller by the same proportionate amount, with the per-warrant price and the purpose of the fundraising left untouched.
Also from Ecofinity Atomix
Board meeting on 7 November 2026 to consider unaudited Q2 and half-year results
29 Oct 2026
EGM on 4 Nov 2026 to consider cancelling 23,90,000 warrants and issuing 15,87,100 fresh warrants
13 Oct 2026
Board approves rescission of 23,90,000-warrant issue, proposes fresh 15,87,100 warrants
13 Oct 2026
More numbers
- Warrants proposed after exclusion15,52,100
- Warrants proposed before exclusion15,87,100
- Revised aggregate considerationRs.10,94,23,050/-
- Original aggregate considerationRs.11,18,90,550/-
- Issue price per warrantRs.70.50/-
- Warrants allotted to the excluded allottee35,000
- Existing paid-up capital69,62,900 Equity Shares
- Post-issue fully diluted capital85,15,000 Equity Shares
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