Highway Infrastructure544477Warrant news
EGM on 13 November 2026 to consider authorised capital increase and convertible warrants to promoter group
EGM called for Friday, 13 November 2026 at 03:00 P.M. (IST), through video conferencing.
By ScoutQuest · · 3 min read
- Authorised Share Capital Increase
- from Rs. 40,00,00,000 to Rs. 50,00,00,000
- Convertible Warrants to Promoter Group
- up to 1,00,00,000 convertible warrants at Rs. 49.82/- per warrant
- Aggregate Warrant Consideration
- up to Rs. 49,82,00,000/-
The company has convened its First Extraordinary General Meeting for the financial year 2026-27 on Friday, 13 November 2026 at 03:00 P.M. (IST), to be held through video conferencing or other audio-visual means. Two resolutions are placed before shareholders.
Increase in authorised share capital
- Proposed as an Ordinary Resolution.
- Authorised share capital to rise from Rs. 40,00,00,000 divided into 8,00,00,000 equity shares of Rs. 5/- each to Rs. 50,00,00,000 divided into 10,00,00,000 equity shares of Rs. 5/- each.
- This is achieved by creation of 2,00,00,000 additional equity shares of Rs. 5/- each.
- Clause V of the Memorandum of Association is to be substituted accordingly.
Convertible warrants to the promoter group
- Proposed as a Special Resolution.
- Up to 1,00,00,000 convertible warrants on a preferential basis, each carrying a right to subscribe to one equity share of face value Rs. 5/-.
- Issue price of Rs. 49.82/- per warrant, including a premium of Rs. 44.82/- per warrant.
- Aggregate consideration not exceeding Rs. 49,82,00,000/-.
- Relevant date for determining the minimum issue price is 14 October 2026.
- A valuation report from a registered valuer has been taken on record for determining the issue price.
Payment terms and timeline
- 25% (Twenty-Five Percent) of the warrant issue price is payable at the time of subscription and allotment; the balance 75% (Seventy-Five Percent) is payable at the time of exercise.
- Warrants must be exercised within 18 months from the date of allotment, failing which they lapse and the amount paid stands forfeited.
- Equity shares issued on exercise will be in dematerialised form and will rank pari passu with existing equity shares, including dividend and voting rights.
- The warrants carry no shareholder rights, including dividend or voting, until the equity shares are issued.
- The warrants and the resulting equity shares are subject to lock-in as prescribed under Chapter V of the SEBI ICDR Regulations.
- The company will apply to BSE Limited and NSE for in-principle approval, listing and trading approvals for the shares arising on exercise.
Voting and meeting details
- Cut-off date for e-voting eligibility is Friday, 06 November 2026.
- Remote e-voting runs from 09:00 A.M. on Tuesday, 10 November 2026 to 05:00 P.M. on Thursday, 12 November 2026.
- Results are scheduled to be declared on Sunday, 15 November 2026.
- CS Manish Maheshwari has been appointed as Scrutinizer for the e-voting process.
How to read the two items
- Authorised share capital is the ceiling up to which a company can issue shares; raising it does not by itself change the number of shares in issue or dilute existing holders.
- The warrant issue, if fully exercised, would bring in up to Rs. 49,82,00,000/- and add up to 1,00,00,000 equity shares. Any change in existing shareholders' percentage holding would follow from the allotment of shares on exercise of the warrants, which is proposed to the promoter group on a preferential basis.
- Because warrants are paid in two parts, only 25% is received at subscription and the remaining 75% comes in later, on exercise.
- The exercise window of 18 months sets the period within which the shares can be taken up.
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More numbers
- Authorised share capital proposed after increaseRs. 50,00,00,000/-
- Additional equity shares of Rs. 5/- each created2,00,00,000
- Convertible warrants proposed to promoter group1,00,00,000
- Warrant issue price49.82/- per Warrant
- Premium per warrant44.82/- per Warrant
- Aggregate consideration for warrantsRs. 49,82,00,000/-
- Amount payable on subscription25% (Twenty-Five Percent)
- Warrant exercise period from allotment18 (Eighteen) months
Source: BSE · 21 Oct 2026
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