EGM Details
The 1st Extra-Ordinary General Meeting for FY 2026-27 is scheduled to be held on Saturday, 27th June 2026 at 01:00 PM (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM).
Business to be Transacted
Item Number 1: To consider and approve issue of equity shares on preferential basis to the promoter/promoter group and non-promoters for consideration in cash.
Preferential Issue Details
- Total Shares: Up to 59,76,096 fully paid-up Equity Shares
- Face Value: Rs. 10 per share
- Issue Price: Rs. 502 per Equity Share (including premium of Rs. 492 per share)
- Total Issue Size: Rs. 300,00,00,192/- (Rupees Three Hundred Crores and one hundred ninety-two only)
- Allottees: 24 proposed allottees comprising promoter/promoter group and non-promoter public category
- Relevant Date: May 27, 2026 (30 days prior to the date of passing of special resolution)
Pricing Basis
The issue price of Rs. 502 per share was determined in accordance with Regulation 164 of SEBI ICDR Regulations 2018, considering:
- 90-trading days' volume weighted average price: Rs. 292.92
- 10-trading days' volume weighted average price: Rs. 501.56
- Price determined by independent valuer: Rs. 501.56
The valuation was conducted by Rajneesh Sharma, Registered Valuer (IBBI/RV/03/2021/14143).
Utilization of Proceeds
Gross Proceeds: Rs. 300,00,00,192
Estimated Issue Expenses: Rs. 7,00,00,192 (2.33% of gross proceeds)
Net Proceeds: Rs. 293,00,00,000 (97.67% of gross proceeds)
Proposed Utilization:
1. Repayment/prepayment of borrowings: Rs. 225,00,00,000 (76.79% of net proceeds)
- To be utilized for working capital facilities and/or term loan facilities
- Completion timeline: By March 31, 2027
2. General Corporate Purposes: Rs. 68,00,00,000 (23.21% of net proceeds)
- Includes business development, acquisitions, capital expenditure, investments in subsidiaries, working capital, office construction
- Completion timeline: By December 31, 2027 or within 18 months of receipt of funds
The company will appoint a Monitoring Agency as required by Regulation 162A of SEBI ICDR Regulations since the issue size exceeds Rs. 100 crore.
Shareholding Pattern Impact
Pre-Issue (as on 31/03/2026):
- Total Shares: 6,92,63,342
- Promoter & Promoter Group: 4,86,06,381 shares (70.18%)
- Public Holding: 2,06,56,961 shares (29.82%)
Post-Issue:
- Total Shares: 7,52,39,438
- Promoter & Promoter Group: 4,90,04,787 shares (65.13%)
- Public Holding: 2,62,34,651 shares (34.87%)
The promoter holding will decrease from 70.18% to 65.13%, but there will be no change in control or management of the company.
Key Conditions and Compliance
- Equity shares will rank pari passu with existing shares from date of allotment
- Subject to lock-in period as specified under SEBI ICDR Regulations
- Allotment to be completed within 15 days of shareholder approval or within 15 days of receiving last regulatory approval
- 100% consideration must be paid from allottees' bank accounts before allotment
- Shares will be allotted in dematerialized form
- Company maintains minimum 25% public shareholding as required
Proposed Allottees Details
The 24 proposed allottees include:
1. Krishan Lalit Bansal (Promoter) - 3,98,406 shares (47.31% post-issue holding)
2. Kotak Mahindra Trustee Co Limited (Mutual Fund) - 2,98,804 shares
3. Various WhiteOak Capital funds (AIFs & FPIs) - Total 13,69,073 shares
4. ValueQuest funds (FPI) - Total 17,38,051 shares
5. 360 ONE PIPE Fund (AIF) - 4,98,007 shares
6. Other AIFs, FPIs, body corporates and individual public investors
Voting Arrangements
- Remote e-voting period: June 24, 2026 (9:00 AM) to June 26, 2026 (5:00 PM)
- Record date for voting: June 20, 2026
- Scrutinizer: Mr. Kapil Kumar, Kapil Kumar & Co., PCS
- Physical attendance dispensed with as per MCA circulars
Additional Documents Available
- Explanatory statement pursuant to Section 102 of Companies Act, 2013
- Valuation report by independent registered valuer
- Certificate from practicing company secretary
- All documents available on company website: www.deepiping.com