EGM on 19 October 2026 to approve preferential issue of 55,000 shares at ₹76 to promoters

An EGM is called for Monday, 19 October 2026 at the registered office in Secunderabad.

Sat 26 Sep 2026

Issue Size

55,000 equity shares of ₹10 face value at ₹76 each, aggregating ₹41,80,000

Allottees

Ch. Narendra (27,500 shares) and Ch. Anitha (27,500 shares), both promoters

Issue Price

₹76 per share (premium ₹66)

Lock-in Period

18 months from trading approval

EGM Date

Monday, 19 October 2026

What is being proposed

The Board, at its meeting on 19 September 2026, approved and placed before shareholders a special resolution to issue and allot up to 55,000 fully paid-up equity shares of face value ₹10/- each at an issue price of ₹76/- per share (including a premium of ₹66/-), aggregating up to ₹41,80,000/-, for cash, on a preferential basis.

Who gets the shares

• Ch. Narendra, Promoter — 27,500 shares
• Ch. Anitha, Promoter — 27,500 shares

Both are existing members of the Promoter Group and will continue to be classified as Promoters. Post-issue, Ch. Narendra would hold 2,20,400 shares or 29.41% of post-issue capital, and Ch. Anitha 69,814 shares or 9.32%. The company states there will be no change in control or management.

Why the money is being raised

To augment long-term working capital requirements and for general corporate purposes. The Board considered a preferential issue the most expedient and cost-effective route given the quantum of funds needed, and the promoters expressed willingness to infuse the funds.

How the price was set

The relevant date is 18 September 2026. The shares are "frequently traded", with traded turnover over the 240 trading days preceding the relevant date at 26.42% of the weighted average number of total shares. The floor price is the higher of the 90-trading-day VWAP of ₹75.02 and the 10-trading-day VWAP of ₹63.69, i.e. ₹75.02. Since the allotment exceeds five per cent of post-issue fully diluted capital to allottees acting in concert, a valuation report dated 19 September 2026 was obtained from an Independent Registered Valuer. The issue price of ₹76 is stated to be not less than the higher of the floor price and the valuation price.

Conditions attached

• Allotment in dematerialised form within 15 days of passing the resolution (or of receipt of any pending regulatory approval).
• Full consideration to be received through banking channels before allotment.
• New shares rank pari passu with existing shares, including for dividend.
• New shares locked-in for 18 months from trading approval; the allottees' entire pre-preferential holding locked-in from the relevant date up to 90 trading days from trading approval.
• Listing on BSE Limited subject to regulatory approvals.

Meeting and voting mechanics

The EGM is on Monday, 19 October 2026 at 12:00 noon at the registered office in Secunderabad. Voting rights are as per shareholding on the cut-off date of 12 October 2026. Remote e-voting through CDSL runs from 16 October 2026 9:00 a.m. to 18 October 2026 5:00 p.m. Ballot paper voting will be available at the meeting for those who have not e-voted. A Practising Company Secretary has been appointed as Scrutiniser, and results will be communicated to BSE.

How investors may read it

Promoters putting fresh cash into the company at a price above the regulatory floor is often seen as a sign of promoter commitment, while the fresh shares add to the share count. The amount involved is small relative to the size of typical fund-raises, and the outcome depends on shareholder approval at the EGM.

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.