EGM on October 16, 2026 to seek approval for preferential issue of shares and promoter warrants

Qualitek Labs has called an EGM on Friday, October 16, 2026 at 12:30 PM via video conferencing.

Thu 24 Sep 2026

EGM Date and Time

Friday, October 16, 2026 at 12:30 PM via video conferencing

Preferential Share Issue

Up to 3,86,000 equity shares at ₹518.55 each, aggregating ₹20,01,60,300

Convertible Warrants Issue

Up to 5,20,000 fully convertible warrants to TIC Services Private Limited at ₹518.55 each, aggregating ₹26,96,46,000

E-voting Period

October 13–15, 2026

Relevant Date for Pricing

September 16, 2026

What is being proposed

Qualitek Labs Limited has issued a notice for an Extra-Ordinary General Meeting (EGM) to be held on Friday, October 16, 2026 at 12:30 PM through Video Conferencing / Other Audio-Visual Means. Two items of special business are placed before shareholders, both requiring a Special Resolution (at least three-fourths of votes cast in favour).

Item 1: Preferential issue of equity shares

• Up to 3,86,000 equity shares of face value ₹ 10/- each.
• Issue price ₹518.55 per share, including a premium of ₹508.55 per share.
• Total amount raised for cash: up to ₹ 20,01,60,300/-.
• 26 proposed allottees. The largest is Ashish Rameshchandra Kacholia with 1,73,200 shares (Non-Promoter), followed by Kushal Jayesh Khandwala with 40,000, Nutan Talwar with 18,000, Jagattaraini Tieup Private Limited with 16,000 and Rakesh Laroia with 12,000.
• One promoter allottee, Kamal Grover, is proposed to receive 1,200 shares.
• Allotment to be in dematerialised form within 15 days of members' approval (or of the last regulatory approval, if pending).
• Allottees must pay 100% of the consideration on or before the date of allotment, from their own bank accounts.
• The new shares, and the allottees' existing pre-preferential holdings, will be subject to lock-in under the SEBI ICDR Regulations.

Item 2: Fully convertible warrants to the promoter

• Up to 5,20,000 Fully Convertible Warrants at an issue price of ₹ 518.55/- each.
• Aggregate amount up to ₹ 26,96,46,000/-.
• Sole proposed allottee: TIC Services Private Limited, categorised as Promoter.
• Convertible at the warrant holder's option, in one or more tranches, within 18 months from allotment, into an equal number of equity shares of ₹ 10/- face value at ₹518.55 each (premium ₹508.55).
• At least 25% of the warrant price is payable upfront; the balance 75% is payable at the time of exercise.
• If the warrants are not exercised within the exercise period, they lapse and the amount paid is forfeited by the Company.
• Warrants carry no voting rights until converted.

Meeting and voting mechanics

• Relevant Date for pricing: Wednesday, September 16, 2026, being the working day 30 days prior to the meeting.
• Cut-off date for voting eligibility: Friday, October 09, 2026.
• Remote e-voting: Tuesday, October 13, 2026 (9:00 A.M.) to Thursday, October 15, 2026 (5:00 P.M.), through CDSL.
• Proxies are not permitted for this virtual EGM; body corporates may appoint authorised representatives.
• M/s Ronak Jhuthawat & Co. has been appointed scrutinizer.
• VC participation is available for 1000 members on a first-come-first-served basis, with large shareholders, promoters, directors and certain others exempt from that limit.

What it means for investors

If approved and fully subscribed, the company would raise fresh capital through both the share issue and, over time, the warrants. New shares issued to outside and promoter investors increase the total share count, which dilutes the proportionate holding of existing shareholders, while also bringing cash into the company. The warrants convert only if the promoter entity chooses to exercise them within 18 months and pays the remaining 75%. The resolutions are proposals at this stage and take effect only subject to shareholder approval and the necessary regulatory permissions.

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