Reason for Corrigendum

The Company filed applications with NSE and BSE for in-principle approval for a proposed preferential issue of warrants convertible into equity shares. Following observation letters from the exchanges, this corrigendum is issued to rectify/provide additional details.

Key Revisions to Agenda Item No. 1

Resolution No. 1: Preferential Issue of Warrants to Promoters

  • Issue Price Revision: The issue price has been revised from ₹343.00 to ₹343.03 per equity share.
  • Instrument Details: 15,00,000 (Fifteen Lakh) convertible warrants, each convertible into one fully paid-up equity share of face value ₹10 each.
  • Premium: ₹333.03 per warrant
  • Total Aggregate Consideration: Revised to ₹51,45,45,000 (Fifty-One Crore Forty-Five Lakh and Forty-Five Thousand)

Key Revisions to Explanatory Statement

Paragraph 1 & Sub-point 2 of Paragraph 3

  • Updated to reflect the revised issue price of ₹343.03 per warrant and total consideration of ₹51,45,45,000.

Sub-point 3 of Paragraph 3

  • Pricing Compliance: The Board fixed the issue price at ₹343.03 per warrant, which is above the minimum price of ₹343.02 per warrant determined in accordance with Regulation 164 of SEBI ICDR Regulations.
  • Valuation Report: The Company voluntarily obtained a valuation report from Mr. Vinod Sakaram, a Registered Valuer (Registration No. IBBI/RV/02/2020/13284).
  • Listing Status: Equity shares are listed on BSE and NSE and are frequently traded.

Sub-point 4 of Paragraph 3

  • Payment Structure:
  • 25% of consideration (₹12,86,36,250) payable at the time of warrant allotment
  • 75% of consideration (₹38,59,08,750) payable at the time of warrant conversion

Sub-point 17 of Paragraph 3

  • Company Secretary Certificate: A certificate issued by Mr. Vinod Sakaram, Partner M/s VSSK & Associates, Company Secretary (Membership No. A23285, C.P. No. 8345), certifying compliance with ICDR Regulations will be available for inspection on the company website until June 16, 2026.

Additional Information

  • This corrigendum forms an integral part of the original EGM notice dated May 21, 2026.
  • The document is issued pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • All other contents of the EGM notice remain unchanged except for the specified modifications.
  • The corrigendum is available on the company website at https://www.hariompipes.com/Extraordinary-General-Meeting.