Key Decisions and Approvals

1. Qualified Institutions Placement (QIP) Approval:

  • The Board approved raising funds through issuance of equity shares via a Qualified Institutions Placement (QIP).
  • The QIP is subject to approvals from shareholders, stock exchanges, and other regulatory/statutory authorities.
  • The primary stated purpose is to achieve and maintain the company's minimum public shareholding requirements.
  • A QIP Committee has been constituted and authorized to determine key terms including:
  • Size, timing, number, and price of the issue
  • Identification of eligible Qualified Institutional Buyers (QIBs)
  • Allocation and allotment decisions
  • Appointment of intermediaries and advisors
  • Finalization of transaction documents
  • Making necessary filings and applications

QIP Financial Details (From Annexure-A):

  • Type of Issue: Qualified institutional placement
  • Total Amount: Not exceeding ₹1,200 Crore (Rupees One Thousand Two Hundred Crore Only)
  • Amount includes premium component
  • Price to be determined in accordance with applicable laws

2. Employee Stock Option Plan (ESOP) Allotment:

  • The Board approved the issue and allotment of 4,11,587 Equity Shares of face value ₹1 each
  • Exercise price: ₹398.39 per share
  • Issued pursuant to the Employee Stock Option Plan 2023 (ESOP 2023) to eligible employees
  • The allotment was made on the recommendation of the Nomination and Remuneration Committee

Capital Structure Impact (From Annexure-C):

  • Pre-allotment share capital: ₹30,69,01,762 (30,69,01,762 equity shares of ₹1 each)
  • Post-allotment share capital: ₹30,73,13,349 (30,73,13,349 equity shares of ₹1 each)
  • Increase of 4,11,587 shares representing approximately 1.34% dilution
  • New shares rank pari passu with existing equity shares
  • Premium per share: ₹397.39

Procedural Details

  • The company will seek shareholder approval for the QIP through postal ballot
  • Postal ballot notice will be circulated to shareholders in due course as per applicable laws
  • The company is completing formalities for listing and trading approval of the ESOP shares
  • Necessary documents will be filed with stock exchanges shortly

Meeting Details

  • Commencement: 04:30 PM (IST)
  • Conclusion: 05:20 PM (IST)

Additional Information

  • Company formerly known as Fujiyama Power Systems Private Limited