EGM proceedings: shareholders voted on preferential issue of up to 14,88,600 shares at Rs. 228 each

The EGM was held on October 1, 2026 at Mulund West, Mumbai, starting 12:00 p.m. and concluding at 12:21 p.m.

Thu 1 Oct 2026

Shares to be issued

Up to 14,88,600 equity shares

Face value

INR 10/- each

Issue price

INR 228.00/- each

Premium

INR 218.00/- each

Total aggregated value

INR 33,94,00,800/-

What happened

The company's 01/2026-27 Extra Ordinary General Meeting of equity shareholders was held on Thursday, October 1, 2026 at 12:00 p.m. IST at Runwal Heights, Mulund West, Mumbai, and concluded at 12:21 p.m. IST. The Managing Director and Chairman, Siddharth Rajendra Agarwal, chaired the meeting.

The resolution placed before members

One item of special business, proposed as a Special Resolution

• Create, offer, issue and allot up to 14,88,600 equity shares
• Face value INR 10/- each
• Issue price INR 228.00/- each, including a premium of INR 218.00/- each
• Aggregating up to INR 33,94,00,800/-
• To allottees belonging to the Promoters Group and Non-Promoters
• For cash and for consideration other than cash (share swap)
• On a private placement and preferential basis

Who attended

Directors present included the Managing Director, a Whole-time Director, a Non-Executive Director and two Independent Directors. The Chief Financial Officer and Company Secretary were present, along with the Statutory Auditor and the Secretarial Auditor.

Voting process

Remote e-voting was available from Monday, September 28, 2026 (9:00 a.m. IST) to Wednesday, September 30, 2026 (5:00 p.m. IST), and e-voting at the meeting was open from 12:00 p.m. to 02:00 p.m. IST. Murtuza Mandorwala, Practicing Company Secretary, was appointed Scrutiniser. The combined e-voting results with the consolidated Scrutiniser's Report are to be declared within the prescribed timelines.

Why it matters

A preferential issue brings in fresh capital or assets, but also creates new shares, which can change the shareholding mix for existing investors. Part of the consideration here is a share swap rather than cash. The actual voting outcome will come with the Scrutiniser's Report.

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