Meeting Details
- Date: Friday, July 17, 2026
- Time: 12:30 p.m. (IST)
- Type: Extraordinary General Meeting
- Mode: Video Conferencing/Other Audio-Visual Means
- Location: Virtual meeting with deemed venue at Registered Office - Plot No. A 22/1 G.I.D.C. Ichhapore, Surat, Gujarat, India, 394510
- Cut-off date for voting eligibility: June 19, 2026
Proposed Resolutions and Implications
Item 1: Ordinary Resolution - Increase Authorised Share Capital
- Increase authorized share capital from existing ₹25,00,00,000 divided into 2,50,00,000 equity shares of ₹10 each to ₹30,00,00,000 divided into 3,00,00,000 equity shares of ₹10 each
- Alteration of Clause V of Memorandum of Association to reflect the increased capital
- Requires ordinary resolution approval
Item 2: Special Resolution - Preferential Issue of Equity Shares
- Issue 21,10,000 fully paid-up equity shares of face value ₹10 each for cash at price of ₹245 per share (including premium of ₹235)
- Aggregate consideration: ₹51,69,50,000
- Allottees: 82 non-promoter entities/individuals
- Floor price determination: Relevant date is June 17, 2026 (30 days prior to EGM)
- 90-day VWAP: ₹234.64, 10-day VWAP: ₹233.38
- Issue price of ₹245 is higher than both calculated floor prices
Item 3: Special Resolution - Preferential Issue of Convertible Warrants
- Issue 19,30,000 convertible warrants at price of ₹245 per warrant
- Each warrant convertible into 1 equity share of ₹10 face value at premium of ₹235 within 18 months from allotment
- Maximum consideration: ₹47,28,50,000
- Allottees: Mix of promoter group (8,76,500 warrants) and non-promoters (10,53,500 warrants)
- 25% payment at subscription, balance 75% on conversion
Fund Utilization Plan
| Purpose | Amount (₹) | Percentage | Timeline |
| Plant and Machinery | 3,50,00,000 | 3.54% | 1.5 years |
| Bank Term Loan & CC Repayment | 43,00,00,000 | 43.44% | 3 months |
| Marketing and Advertising | 3,50,00,000 | 3.54% | 1.5 years |
| Working Capital | 35,00,00,000 | 35.36% | 9 months |
| General Corporate Purpose | 13,98,00,000 | 14.12% | 1.5 years |
| Total | 98,98,00,000 | 100.00% | |
Voting Process and Methods
- Remote e-voting period: July 14, 2026 (9:00 a.m.) to July 16, 2026 (5:00 p.m.)
- E-voting during meeting: Available for shareholders attending through VC/OAVM
- Voting agency: Central Depository Services India Limited (CDSL)
- Scrutinizer: M/s. Dhirren R. Dave & Co., Practicing Company Secretaries, Surat
- Result disclosure: Within 2 working days post-EGM on company website, NSE website, and CDSL website
Shareholder Participation Details
- Facility available for 1,000 shareholders on first-come-first-served basis
- Large shareholders (2%+ holding), promoters, institutional investors, directors, KMPs exempt from attendance restriction
- Physical attendance dispensed with, quorum through VC/OAVM attendance
- Proxy appointment not available for this EGM
Compliance with Laws and Regulations
- Complies with SEBI (LODR) Regulations, 2015
- Follows MCA Circulars Nos. 14/2020, 17/2020, 20/2020, 09/2024, 03/2025
- Adheres to SEBI Circulars dated July 11, 2023, October 7, 2023, and October 3, 2024
- Compliant with Companies Act, 2013 provisions
- Subject to approvals from SEBI, RBI, NSE, MCA, ROC
Signatories and Roles
- Aniket Ranpara: Company Secretary & Compliance Officer
- Scrutinizer: M/s. Dhirren R. Dave & Co. (to submit report within 2 working days post-EGM)
- Board of Directors: Authorized to implement resolutions and make necessary modifications
Additional Information
- Pre-issue shareholding pattern: Promoters 73.50%, Public 26.50%
- Post-issue shareholding pattern (fully diluted): Promoters 66.94%, Public 33.06%
- Lock-in requirements as per SEBI ICDR Regulations
- Allotment to be completed within 15 days of resolution passing or regulatory approvals
- Company confirms no directors/promoters are wilful defaulters or fugitive economic offenders
- Explanatory statement pursuant to Section 102 of Companies Act, 2013 provided