EGM on Oct 21, 2026 to raise authorised capital to Rs. 250 crore and issue 53,28,00,000 shares at Rs. 5 each

EGM called for Wednesday, October 21, 2026 at 12:30 P.M. via video conferencing.

Fri 25 Sep 2026

Authorised Share Capital

Rs. 250,00,00,000 consisting of 250,00,00,000 equity shares of Rs. 1 each

Preferential Issue Shares

Up to 53,28,00,000 equity shares of Rs. 1 face value at Rs. 5 each (premium Rs. 4)

Allottees and Allocation

Mangesh Anilpant Duke 120000000 shares (cash), Payal Mangeshrao Duke 80000000 shares (cash), Jagjit Gouri 332800000 shares (other than cash)

EGM Date and Time

Wednesday, October 21, 2026 at 12:30 P.M. via video conferencing

E-voting Period

October 18–20, 2026; Cut-off date October 14, 2026

What is happening

The company has called its first Extraordinary General Meeting for FY 2026-27 on Wednesday, October 21, 2026 at 12:30 P.M. (IST) through video conferencing / other audio-visual means. Two items of special business are placed before shareholders, both as Special Resolutions.

Item 1 – Authorised capital

Clause V of the Memorandum of Association is proposed to be amended so the Authorised Share Capital becomes Rs. 250,00,00,000 consisting of 250,00,00,000 equity shares of Rs. 1 each. Raising authorised capital is the enabling step that lets a company issue more shares than its existing ceiling allows.

Item 2 – Preferential issue

Approval is sought to create, offer, issue and allot on a preferential basis up to a maximum of 53,28,00,000 equity shares of face value Rs. 1 each at a price of Rs. 5 per share, which includes a premium of Rs. 4 per share.

Proposed allottees, all in the Non-Promoter category

• Mr. Mangesh Anilpant Duke – 120000000 shares, consideration in cash
• Ms. Payal Mangeshrao Duke – 80000000 shares, consideration in cash
• Mr. Jagjit Gouri – 332800000 shares, consideration other than cash
• Grand total – 532800000 shares

Key terms of the issue

• Relevant Date under Regulation 161 of SEBI ICDR is Monday, 21st September 2026, being 30 days before the date the resolution is deemed passed.
• Allotment within 15 days of passing the resolution, or within 15 days of receipt of any pending regulatory approval.
• Shares will be in dematerialised form and rank pari-passu with existing equity shares, including dividend.
• Allotted shares are subject to lock-in as specified under Chapter V of the ICDR Regulations for preferential issues.
• Each allottee must bring in 100% of the consideration on or before the date of allotment, paid from the allottee's own bank account.
• The Board is authorised to vary terms including size and issue price, subject to applicable SEBI regulations.

Voting details

Remote e-voting opens Sunday, October 18, 2026 at 9:00 A.M. and closes Tuesday, October 20, 2026 at 5:00 P.M. The cut-off (record) date for eligibility is Wednesday, October 14, 2026, and voting rights are proportionate to paid-up equity holding on that date. E-voting is facilitated by NSDL. M/s. Arun Kumar Gupta & Associates, Practicing Company Secretaries, Delhi, is the Scrutinizer. Physical attendance and proxies are not applicable as the meeting is held through VC/OAVM; participation is available for 1000 members on a first come first served basis, excluding shareholders holding 2% or more, promoters, institutional investors, directors and key managerial personnel who may attend without that restriction.

What investors may weigh

The proposed issue of up to 532800000 new shares to non-promoter allottees, if approved and allotted, would expand the share count and dilute existing shareholders' proportionate holding. A large part of the proposed allotment — 332800000 shares — is for consideration other than cash. The pricing of Rs. 5 per share is stated to be calculated in compliance with Chapter V of the SEBI ICDR Regulations, or such higher price as determined thereunder. These are proposals requiring shareholder approval at the EGM.

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