Global Infratech & Finance Limited submitted a corrigendum to its Notice of the 31st Annual General Meeting (AGM) dated August 21, 2026. The corrigendum was dispatched to members on September 4, 2026.
The correction pertains to a typographical error in the Special Resolution set out at Item No. 3 of the AGM Notice. The aggregate amount to be raised was erroneously stated as 'not exceeding Rs. 1.18958 Crore' instead of the correct amount of 'not exceeding ₹2.00 Crore'.
The revised resolution seeks shareholder approval to raise funds through one or more Qualified Institutional Placement(s) (QIP) for an aggregate amount not exceeding ₹2.00 Crore (Rupees Two Crore). The securities will be equity shares of face value of ₹10 each.
Key Resolution Details
- Purpose: To approve raising of funds through Qualified Institutional Placement (QIP)
- Maximum Amount: ₹2.00 Crore
- Security Type: Equity Shares
- Pricing: To be determined in accordance with Chapter VI of the SEBI ICDR Regulations, with a floor price and a permissible discount of not more than 5%
- Allotment Restrictions: No single allottee shall be allotted more than 50% of the QIP size; minimum number of allottees as per SEBI regulations
- Lock-in: Equity Shares allotted shall not be eligible for sale for a period of one year from the date of allotment, except on a recognized stock exchange
- Ranking: The new equity shares shall rank pari-passu with existing equity shares
- Validity: The allotment must be completed within 365 days from the date of passing the special resolution
Rationale and Use of Proceeds
The Board of Directors approved the QIP proposal at its meeting held on August 21, 2026. The fund raising is intended to:
- Support compliance with minimum public shareholding (MPS) requirements following the successful completion of the Corporate Insolvency Resolution Process (CIRP)
- Strengthen the Company's capital structure
- Augment financial resources for growth and expansion plans
- Support investment in future operations
- Meet long-term working capital requirements
- Fund strategic initiatives
- Serve general corporate purposes
Regulatory Framework
The issuance will be conducted under:
- Sections 23, 42, 62, 179 and other applicable provisions of the Companies Act, 2013
- Companies (Prospectus and Allotment of Securities) Rules, 2014
- Companies (Share Capital and Debentures) Rules, 2014
- Foreign Exchange Management Act, 1999 and related rules
- SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
- SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
- Applicable listing agreements with BSE Limited
Governance
None of the Directors, Key Managerial Personnel of the Company or their relatives is concerned or interested in the proposed Resolution, except to the extent of their respective shareholding, if any, in the Company.
The Board is authorized to delegate all or any of its powers to any Committee of Director or Directors or any one or more executives of the Company to implement the resolution.
AGM Details
The 31st Annual General Meeting is scheduled to be held on Wednesday, September 16, 2026. The modified resolution will be put to vote through e-voting.