Corrigendum to EGM notice: revised terms of the proposed preferential issue of shares and warrants

Corrigendum to the notice of the Extraordinary General Meeting scheduled for October 15, 2026.

Tue 6 Oct 2026

Equity shares proposed

Up to 1,30,26,516 fully paid-up equity shares

Warrants proposed

Up to 1,89,47,664 warrants

Issue price

INR 985.17 per share / per warrant

What the company has shared

This is a corrigendum — a correction or addition — to the notice of the company's Extraordinary General Meeting scheduled for October 15, 2026. The corrigendum replaces certain paragraphs of the explanatory statement attached to that notice and is to be read together with the notice.

Why the corrigendum was issued

NSE asked the company to provide clarifications and additional information on the tenure of the warrants, the objects of the proposed preferential issue, the use of the proceeds and the valuation mechanism, and suggested issuing a corrigendum to the notice. The company says this corrigendum is being issued in continuation of the EGM notice.

What is proposed to be issued

The proposed preferential issue, on a private placement basis, covers

• Up to 1,30,26,516 fully paid-up equity shares of the company, at an issue price of INR 985.17 per share, for an aggregate subscription share consideration of INR 12,83,33,32,767.72.
• Up to 1,89,47,664 warrants, each carrying the right to subscribe to one equity share of the company, at INR 985.17 per warrant.
• 25% of the warrant price is payable upfront and the balance on exercise.
• The update states the issue price is not lower than the floor price determined in terms of the SEBI ICDR Regulations, and that the equity shares are listed on BSE and NSE, with NSE — the exchange with higher trading volumes — considered for determining the floor price.

Warrant tenure

• The tenure of the warrants shall not exceed 18 months from the date of allotment, which the update describes as the maximum permissible tenure.
• The update also indicates the period within which the company expects the proposed allottee to exercise the warrants, based on its estimated schedule for deploying the funds; it states this does not create a separate or alternative tenure for the warrants.

Use of proceeds

• The proceeds are proposed to be used for the expansion and development of the company's hospital network and infrastructure, or the expenditure requirements of the company and its subsidiaries, and for other general corporate purposes.
• 13,12,50,00,227.58 is earmarked for expansion and development out of the amounts to be received against the allotment of the subscription shares and subscription warrants; further amounts are earmarked from the proceeds on exercise of the warrants, as set out in the utilisation table.
• The company and its subsidiaries operate in the healthcare sector, and the update says timely investment in hospitals and infrastructure is critical to support expansion, enhance medical facilities and improve patient care.
• Expansion may take the form of direct acquisition of equity stake in target companies, joint ventures or strategic partnerships, entry into medical service agreements or O&M agreements, asset purchase (including new equipment) or business transfer, or a combination of these.
• The company says it is in the process of identifying suitable targets and is engaging with investment advisors; the Board will evaluate and approve each acquisition on its own merits.

Flexibility in use of funds

• The proposed allocation of the proceeds across the objects may vary by ±10%, as the fund requirements are based on management estimates and market conditions.
• Any such deviation must be used only within the stated objects and cannot be diverted to general corporate purposes.
• Pending utilisation, the company may invest the proceeds in permitted money market instruments, debt market instruments (including liquid funds) and deposits with scheduled commercial banks.
• CRISIL Ratings Limited has been appointed as the monitoring agency to monitor the use of the proceeds, with the agency's report to be uploaded on the company's website and submitted to the stock exchanges.

What this update is

• This is a corrigendum to the EGM notice, not the outcome of the meeting. The EGM is scheduled for October 15, 2026, and the resolutions are yet to be placed before members.
• The corrigendum sets out revised terms for the proposed preferential issue — the number of shares and warrants, the price, the warrant tenure, the objects and the permitted deviation.
• All other contents of the EGM notice remain unchanged, and the corrigendum forms an integral part of that notice.

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