1st EGM on Oct 30: object change, renaming, office shift, capital hike, share-swap preferential issue

01st EGM of FY 2026-27 on Friday, October 30, 2026 at 12:30 P.M. (IST) through video conferencing.

Thu 8 Oct 2026

EGM Date

01st EGM of FY 2026-27 on Friday, October 30, 2026 at 12:30 P.M. (IST)

Preferential Issue

up to 1,05,68,750 shares at Rs. 41.30 each, up to Rs. 43,64,89,375

Authorised Share Capital

raise authorised share capital to Rs. 38,00,00,000

Each of these is a proposal being put to shareholders for a vote, not something already done.

What shareholders are being asked to decide

• Item 1 (Special Resolution): Altering the Main Objects Clause of the Memorandum of Association. The new objects cover product lifecycle management - sourcing, procurement, design, development, manufacturing, assembly, processing, integration, testing, inspection, grading, certification, repair, refurbishment, reconditioning, remanufacturing, quality assurance, warehousing, logistics, packaging, distribution, import, export, marketing, trading, leasing, renting, resale, recycling, reverse logistics, recovery, disposal and end-of-life management - with a primary focus on batteries and energy storage systems, including lithium, lithium-ion, lead, lead-acid, nickel-based, sodium-ion, solid-state and other battery chemistries, battery cells, modules, packs and battery management systems.

• Item 2 (Special Resolution): Changing the name of the company from "PRABHHANS INDUSTRIES LIMITED" to "EXIGO CLEANTECH SOLUTIONS LIMITED", or such other name as may be approved by the competent authority, with consequential changes to the Memorandum and Articles of Association.

• Item 3 (Special Resolution): Shifting the registered office of the company from the State of Telangana to the State of Haryana, with the Memorandum updated to say the registered office will be situated in the State of Haryana.

• Item 4 (Ordinary Resolution): Increasing the authorised share capital from Rs. 12,00,00,000 (Rupees Twelve Crores only), comprising 1,20,00,000 Equity Shares of Rs. 10/- each, to Rs. 38,00,00,000 (Rupees Thirty-Eight Crores Only), comprising 3,80,00,000 Equity Shares of Rs. 10/- each.

The preferential issue and the share swap

• Item 5 (Special Resolution): Issue of up to 1,05,68,750 equity shares of face value Rs. 10/- each at a price of Rs. 41.30/- per equity share, including a premium of Rs. 31.30 per equity share, aggregating up to Rs. 43,64,89,375, to the shareholders of MTOW Mobility Private Limited ("Target Company 1").

• The consideration is discharged otherwise than by payment of cash, through transfer to the company of 25,000 equity shares of face value Rs. 10 each of Target Company 1, representing 100% of the fully diluted paid-up equity share capital of Target Company 1.

• Swap ratio: 1691 equity shares of the company for every 4 equity shares held in Target Company 1.

• The relevant date for determining the price is 30th September 2026; the Share Swap Agreement is dated 30th September 2026.

• On completion of the allotment, Target Company 1 shall become a wholly owned subsidiary of the company.

• The equity shares allotted will rank pari passu with existing equity shares, including dividend and voting rights, and will be subject to lock-in as applicable under Regulation 167 of the SEBI ICDR Regulations. The proposed allottees of Target Company 1 shall not sell, transfer, pledge or otherwise encumber the equity shares so allotted during the lock-in period, except to the extent and in the manner permitted.

• The allotment is to be completed within fifteen (15) days from the date of passing the special resolution, or within fifteen (15) days from the date of receipt of the last requisite approval where allotment is pending on that account.

Who the shares are proposed to be allotted to

• Pankaj Chopra: 42,27,500 equity shares, 12.21% of post-issue paid-up capital
• Anagh Ojha: 42,27,500 equity shares, 12.21%
• 9N9 Ventures Pvt. Ltd.: 19,02,375 equity shares, 5.50%
• Kanika Khanna: 2,11,375 equity shares, 0.61%
• Total: 1,05,68,750 equity shares, 30.53%

• The two individuals are referred to as the "Acquirers"; under the SEBI (SAST) Regulations, 2011 they shall trigger the open offer process, and upon completion of the underlying transaction and the open offer, they may be classified as Promoters of the company.

How shareholders can participate

• The EGM will be held through video conferencing / other audio-visual means.
• Remote e-voting commences on Tuesday, October 27, 2026 at 09:00 A.M. and ends on Thursday, October 29, 2026 at 05:00 P.M.
• The cut-off date for e-voting is Friday, October 23, 2026; the e-voting facility is provided by CDSL. Voting is also available during the meeting for members who have not voted earlier.

Points investors may track

• The name, objects and registered office changes point to a repositioning towards battery and energy-storage lifecycle businesses.
• The preferential issue is a share swap, so the company issues its own shares rather than paying cash, and brings in a new business as a wholly owned subsidiary.
• The authorised capital increase raises the ceiling for future share issuance; it does not by itself change the issued capital.
• The issue price of Rs. 41.30 per share against a face value of Rs. 10/- implies a premium of Rs. 31.30 per share.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.