Board approves QIP fund raise of up to ₹10,00,00,000,00; shareholder nod to be sought by special resolution

Board of Elitecon International Ltd approved raising funds of an aggregate amount not exceeding ₹10,00,00,000,00 (Rupees One Thousand Crore Only).

Mon 12 Oct 2026

Fund Raise Amount

not exceeding ₹10,00,00,000,00 (Rupees One Thousand Crore Only)

Route

Qualified Institutions Placement (QIP) — equity shares and/or other eligible securities

Board Meeting Date

October 12, 2026

Fund raise approved

The Board of Directors, at its meeting held on Monday, October 12, 2026, considered and approved a proposal to raise funds for an aggregate amount not exceeding ₹10,00,00,000,00 (Rupees One Thousand Crore Only).

What the money is being raised through

• Route: Qualified Institutions Placement (QIP) — equity shares of the Company and/or other eligible securities, including securities convertible into or exchangeable for equity shares, as permissible under Chapter VI of the SEBI ICDR Regulations.
• Structure: in one or more tranches and/or issuances, to eligible Qualified Institutional Buyers.
• Price: to be determined by the Board or a duly authorised committee, including applicable premium, in accordance with applicable law, having regard to prevailing market conditions and other relevant considerations.

What still has to happen

• The proposal is subject to the approval of the shareholders of the Company by way of a special resolution.
• It is also subject to receipt of requisite statutory, regulatory and other approvals, consents, permissions and/or clarifications, as may be applicable, and compliance with applicable law.

Plain-English note on a QIP

A QIP is a way for a listed company to sell new shares to large institutional investors rather than to the general public. Because it may involve issuing new equity shares or convertible securities, the total number of shares in issue and the shareholding pattern can change once the issue is completed.

Annexure 1 disclosures

• Type of securities: equity shares and/or other eligible securities, including convertibles, as permissible under Chapter VI of the SEBI ICDR Regulations.
• Type of issuance: Qualified Institutions Placement(s) to eligible Qualified Institutional Buyers, under Chapter VI of the SEBI ICDR Regulations, the Companies Act, 2013 and other applicable laws, in one or more tranches and/or issuances.
• Amount: for an aggregate amount not exceeding ₹10,00,00,000,00 (Rupees One Thousand Crore Only), inclusive of any premium, at such price or prices as may be determined in accordance with applicable law.
• Number of securities: to be determined at the relevant stage based on the applicable issue price, subject to receipt of necessary approvals.
• The further particulars sought for preferential issue, bonus issue, depository receipts (ADR/GDR) or FCCBs, debt securities or other non-convertible securities, and any cancellation or termination of the proposal, are marked Not Applicable.

Other details

The meeting of the Board of Directors commenced at 5:00 P.M. (IST) and concluded at 6:15 P.M. (IST).

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