Key Agenda Items and Financial Figures
Ordinary Business:
1. Adoption of Financial Statements: To receive, consider and adopt the audited standalone and consolidated financial statements of the Company for the financial year ended March 31, 2026, together with reports of the Board of Directors and Auditors.
2. Re-appointment of Director: To re-appoint Mrs. Usha Gupta (DIN: 02261425) who retires by rotation and being eligible offers herself for re-appointment.
Special Business:
3. Increase in Authorised Capital: To increase and alter the authorized share capital of the Company from ₹22,00,00,000 (Rupees Twenty-Two Crores Only) divided into 2,20,00,000 equity shares of ₹10 each to ₹22,50,00,000 (Rupees Twenty Two Crores Fifty Lakhs only) divided into 2,25,00,000 equity shares of ₹10 each. This requires alteration of Clause V of the Memorandum of Association.
4. Preferential Issue for Acquisition: To issue, on preferential basis, up to 4,61,000 fully paid-up equity shares of face value ₹10 each at ₹281.86 per share (including premium of ₹271.86) for consideration other than cash. This is towards acquisition of 100% share capital of Ricardo Elevators Private Limited (50,000 equity shares of ₹10 each) through share swap arrangement totaling ₹12,99,37,460 (Indian Rupees Twelve Crore Ninety-Nine Lakh Thirty-Seven Thousand Four Hundred and Sixty only).
- Swap Ratio: 9.22 equity shares of L.T. Elevator for every 1 equity share of Ricardo Elevators
- Allottee Details:
- Ms. Muralidharan Akshaya (10% holding): 46,100 shares
- Ms. Chandrakala Kallepelli (40% holding): 1,84,400 shares
- Ms. Prathyusha Peddeham (10% holding): 46,100 shares
- Ms. Deepika Hemnani (40% holding): 1,84,400 shares
- Relevant Date: Monday, August 10, 2026 for price determination
- Valuation: CA Manish Gadia, RV No. IBBI/RV/06/2019/11646
- Lock-in: Statutory lock-in under SEBI ICDR Regulations plus contractual lock-in of 15% for 12 months and 30% for 24 months from trading approval date
5. Borrowing Limits Increase: To empower Board of Directors to borrow money up to ₹2,50,00,00,000 (Rupees Two Hundred Fifty Crore only) under Section 180(1)(c) of Companies Act, 2013.
6. Undertaking Disposal Authorization: To empower Board for sale, lease, or other disposal of the whole or substantially the whole of the undertaking of the Company under Section 180(1)(a) of Companies Act, 2013.
Voting Arrangements
- Record Date for voting: Wednesday, September 02, 2026
- Remote e-voting period: Saturday, September 05, 2026 (9:00 AM) to Tuesday, September 08, 2026 (5:00 PM)
- Scrutinizer: Mr. Himanshu Surendrakumar Gupta of M/s. Himanshu S K Gupta & Associates
- Results to be placed on company website within 2 working days of AGM
Financial Impact
- The preferential issue represents approximately 2.12% of pre-issue paid-up capital and 2.07% of post-issue fully diluted paid-up capital
- No change in management or control of Company resulting from the transaction
- No monetary proceeds will be raised through the preferential issue