Kirloskar Electric Company Limited has issued a corrigendum to its Notice of the 79th Annual General Meeting (AGM) that was originally circulated to shareholders on July 21, 2026. The AGM is scheduled to be held on Thursday, August 13, 2026, at 11:00 AM IST through Video Conferencing (VC) / Other Audio Visual Means (OAVM).
The corrigendum provides necessary clarifications and modifications to the explanatory statement for Item No. 8 of the AGM Notice, specifically regarding the "Objects of the Preferential Issue / Utilisation of Issue Proceeds."
The key modification clarifies the precise utilization of the total issue proceeds of ₹39,99,99,927.38 from a preferential issue. The revised allocation is as follows:
- Repayment/prepayment of borrowings: ₹25,00,00,000.00, subject to consents/approvals from the company's consortium lenders.
- Funding working capital requirements: ₹14,99,99,927.38, with the entire amount to be used exclusively for this purpose.
- General corporate purposes: Nil (previously may have had an allocation).
The company explicitly states that no portion of the issue proceeds will be utilised for general corporate purposes. The disclosure confirms that the proposed utilisation is in full compliance with the applicable provisions of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended.
Except for this modification, all other terms, disclosures, and contents of the original AGM Notice remain unchanged and in full force. The corrigendum forms an integral part of the original notice and was communicated to shareholders via email on August 04, 2026. It is also available on the company's website (www.kirloskarelectric.com) and the websites of the BSE (www.bseindia.com) and NSE (www.nseindia.com).
The document was signed by Mahabaleshwar Bhat, Company Secretary & Compliance Officer, from the company's registered office in Peenya, Bengaluru, Karnataka.