Key Changes and Board Decision

The Board of Directors of Kalind Limited, at its meeting held on September 17, 2026, decided to:

  • Withdraw the Special Resolution for issue of Fully Convertible Warrants on preferential basis (Item No. 5 of AGM Notice)
  • Replace it with a new proposal for preferential issue of Equity Shares
  • The existing Agenda Item No. 5 stands withdrawn and is replaced by a new Agenda Item No. 5

Preferential Issue Details

Issue Size: Up to 8,60,86,956 Equity Shares of face value ₹2 each

Issue Price: ₹11.50 per share (₹2 face value + ₹9.50 premium)

Total Amount: ₹98,99,99,994

Allottees: Three non-promoter entities:

  • SRM Global Infraa Limited: 2,00,00,000 shares (₹23,00,00,000)
  • ORANGE AI TECH PRIVATE LIMITED: 2,17,39,130 shares (₹24,99,99,995)
  • EROC COLORANT PRIVATE LIMITED: 4,43,47,826 shares (₹50,99,99,999)

Pricing Basis

Relevant Date: August 28, 2026 (30 days prior to AGM date)

Floor Price: ₹11.39 per share as determined by independent valuer Mr. Suman Kumar Verma (Registration No. IBBI/RV/05/2019/12376)

Issue Price: ₹11.50 per share, which is higher than the floor price

Objects of the Issue

Proceeds will be utilized within 24 months:

  • ₹90,00,00,000 for Capital Expenditure in Energy & Manufacturing Businesses
  • ₹8,99,99,994 for Working Capital Requirements

Shareholding Impact

Pre-Issue Capital: 91,41,75,000 equity shares

Post-Issue Capital: 1,00,02,61,956 equity shares

Promoter Holding Change: 13.56% to 12.39%

Public Holding Change: 86.44% to 87.61%

Voting Arrangements

  • Remote e-voting period: September 26, 2026 (9:00 AM) to September 28, 2026 (5:00 PM)
  • E-voting facility available during AGM on September 29, 2026 at 12:30 PM
  • Voting for withdrawn Item No. 5 will not be considered

Lock-in and Other Conditions

  • Equity shares subject to lock-in as per SEBI ICDR Regulations
  • Shares will rank pari-passu with existing equity shares
  • Allotment to be completed within 15 days of resolution passing or regulatory approvals
  • Funds to be kept in separate bank account until PAS-3 filing with ROC

Ultimate Beneficial Owners of Allottees

  • SRM Global Infraa Limited: Aparna Lenka Laxmi Bujade
  • ORANGE AI TECH PRIVATE LIMITED: Ashish Agrawal, Guriya Amit Shukla
  • EROC COLORANT PRIVATE LIMITED: Mahendrakumar Gordhan Kalaria, Umesh Kumar Verma