Swaraj Suiting544861Preferential allotment

Corrigendum to EGM notice amends objects of two preferential issues

Swaraj Suiting has issued a corrigendum, dated 19-10-2026, to the notice of its Extra-Ordinary General Meeting (EGM) dated 1st October, 2026.

By ScoutQuest · Mon 19 Oct 2026, 10:00 PM IST · 3 min read

75.26%Item 1 - share of issue size for working capital

Item 1 - share of issue size for working capital: 75.26%.

Equity Issue Size: up to Rs. 117.25 crore, at Rs. 335/- per share
Warrant Issue Size: 17,00,000 warrants, up to Rs. 56,95,00,000, at Rs. 335/- per warrant
EGM Date: Saturday, 24th October, 2026 at 1:00 p.m. through video conferencing

The company has issued a corrigendum dated 19-10-2026 to the notice of its Extra-Ordinary General Meeting (EGM) dated 1st October, 2026. The EGM is scheduled for Saturday, 24th October, 2026 at 1:00 p.m. through video conferencing and other audio-visual means.

What the corrigendum changes

The explanatory statements for Item No. 1 and Item No. 2 of the EGM notice have been amended, as advised by the stock exchange(s).
Item No. 1 relates to a preferential issue of equity shares.
Item No. 2 relates to a preferential issue of warrants convertible into equity shares.
The corrigendum forms an integral part of the EGM notice and is to be read with it; all other contents of the notice remain unchanged.

Item No. 1 - Equity shares

The company proposes to raise funds aggregating up to Rs. 117.25 crore (Rupees One Hundred Seventeen Crore Twenty-Five Lakhs) at an issue price of Rs. 335/- per equity share. The stated split of the net proceeds:

Working Capital: 88.25 (Rs. in Crores), being 75.26% of the issue size, tentative timeline 31st March, 2028
Other General Corporate Purposes: 29.00 (Rs. in Crores), being 24.74%, tentative timeline 31st March, 2028
Total: 117.25 (Rs. in Crores), 100.00%

The explanatory note also states that an amount up to 25% (twenty five percent) of the issue proceeds may be used for general corporate purposes and issue-related expenses.

Item No. 2 - Warrants

The company proposes to raise funds aggregating up to Rs. 56,95,00,000 (Rupees Fifty Six Crore Ninety Five Lakh only) through a preferential issue of 17,00,000 warrants at an issue price of Rs. 335/- per warrant, convertible into equity shares. The stated use of proceeds:

Capital Expenditure: 30.00 (Rs. in Crores), 52.68% - additional manufacturing lines, modernisation of existing facilities and purchase of plant, equipment and machinery
Working Capital: 14.95 (Rs. in Crores), 26.25%
Other General Corporate Purposes: 12.00 (Rs. in Crores), 21.07%
Total: 56.95 (Rs. in Crores), 100.00%, utilisation up to 31st March, 2029

For this item the company notes the figures consider 100% conversion of warrants into equity shares within the stipulated time, and that issue proceeds are to be received within 18 months from the date of allotment of the warrants.

Who the shares and warrants go to

Item No. 1 proposed allottees and the natural persons who are their ultimate beneficial owners or who ultimately control them: Clarus Capital I (Soumendra Nath Lahiri); Kritagyata Trust (Ram Ballabh Mishra and Ramamurthy Vaidyanathan); Emerge Capital Opportunities Scheme (Sudhir Jain and Arjun Shanker Bhartia).
Item No. 2 proposed allottees and the natural persons who are their ultimate beneficial owners or who ultimately control them: Clarus Capital I (Soumendra Nath Lahiri); Annso Capital Private Limited (Anand Mohta); RNR Wealth Management Private Limited (Utsav Pramodkumar); MS Capital India Fund 1 (Chirag Fialoke and Suruchi Fialoke); First Among Equals (Tanay Janak Desai).
In both issue tables, the amount is shown under the 'Public' column, with the 'Promoters' column shown as '-'.

Oversight and interim use of money

Crisil Ratings Limited has been appointed as the monitoring agency to monitor the use of the proceeds and to provide a quarterly report for onward submission to the stock exchanges.
Pending full use, the proceeds may be parked in money market instruments including money market mutual funds, fixed deposits with scheduled commercial banks and securities issued by the Government of India.
The commencement date for utilisation is from the date of receipt of the funds.

What shareholders are being asked to decide

The amendments sit inside the explanatory statements for the two items placed before shareholders at the EGM on 24th October, 2026. The corrigendum states that, save and except as expressly modified, all other contents of the EGM notice remain valid and effective, and the amended explanatory statement is to be read along with that notice.

Rs. 1,17,25,00,000Item 1 - preferential issue of equity shares, amount

Item 1 - working capital allocation (Rs. in Crores₹88.25 Cr

Item 1 - other general corporate purposes (Rs. in Crores₹29.00 Cr

Item 1 - preferential issue of equity shares, amount Rs. 1,17,25,00,000: Item 1 - working capital allocation (Rs. in Crores ₹88.25 Cr, Item 1 - other general corporate purposes (Rs. in Crores ₹29.00 Cr.

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