Corrigendum to EGM Notice: Preferential Issue Objects Revised on Exchange Observations

Corrigendum issued to the EGM Notice dated 16 Sep 2026 (EGM on 08 Oct 2026, via VC).

Wed 30 Sep 2026

Preferential Issue Size

Up to 22,27,544 equity shares

Issue Price Per Share

Rs. 1,670/- per equity share

Total Issue Amount

Rs. 3,71,99,98,480/-

Debt Repayment Allocation

₹344.00 crores towards repayment/prepayment of bank borrowings

EGM Date

08 October 2026 at 03:00 P.M. (IST) via video conferencing

What was shared

The company has issued a corrigendum to the Notice of its Extra Ordinary General Meeting dated 16 September 2026. The EGM is scheduled for Thursday, 08 October 2026 at 03:00 P.M. (IST) through video conferencing or other audio-visual means. The corrigendum was electronically dispatched to members on 30 September 2026 and forms an integral part of the EGM Notice.

Why it was issued

The company had shared applications with BSE and NSE seeking in-principle approval for the proposed preferential issue. Following observations received from the stock exchanges, clarifications have been incorporated into the Notes and Explanatory Statement of the EGM Notice.

The proposed preferential issue

• Up to 22,27,544 equity shares of face value Rs. 10 each
• Issue price of Rs. 1,670/- per equity share, including a premium of Rs. 1,660/- per equity share
• Aggregating up to Rs. 3,71,99,98,480/-
• Shareholder approval for this is being sought at the EGM

Changes made

Point (i) of the explanatory statement, on the objects of the preferential issue, has been revised. It now states that the company intends to utilise an aggregate amount of ₹344.00 crores from the issue proceeds towards repayment or prepayment (including estimated prepayment charges), together with accrued interest if any, of all or a portion of certain outstanding bank borrowings. These include term loans as well as working capital loans. Prepayment may attract prepayment charges or penalties as prescribed by the respective lender.

The company states that such repayment or prepayment will help reduce outstanding indebtedness and debt servicing costs and improve its debt-to-equity ratio. The choice of which borrowings to prepay will depend on factors such as maturity profile and remaining tenor, cost of borrowing including interest rates, prepayment penalties, applicable laws, and other commercial considerations.

Secondly, a note appearing under Point (ii), "Utilization of Issue Proceeds", has been deleted pursuant to observations received from BSE. That note had dealt with the fund requirements being based on internal management estimates and the possibility of revising deployment schedules at management discretion.

What stays the same

Save and except as expressly modified by this corrigendum, all other contents of the EGM Notice remain unchanged and continue to be valid. The corrigendum is also available on the company's website.

How to read this

This is a procedural clarification to an already-announced fundraising proposal rather than a new transaction. For shareholders, the key added detail is the explicit earmarking of a large part of the proceeds for debt repayment, which the company links to lower debt servicing costs. The issue itself remains subject to shareholder approval at the EGM and to exchange approvals.

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