Key Proposal Approved: Preferential Issue of Equity Shares

The Board of Directors considered and approved a proposal for the issuance of equity shares on a preferential basis.

  • Total Shares: Up to 25,72,898 fully paid-up equity shares
  • Face Value: ₹ 2 per share
  • Issue Price: ₹ 1,166 per equity share (including a premium of ₹ 1,164 per share)
  • Total Consideration: ₹ 299,99,99,068 (Indian Rupees Two Hundred Ninety-Nine Crore Ninety-Nine Lakh Ninety-Nine Thousand Sixty-Eight Only)
  • Allottees: The shares are to be issued to two investors from the Non-Promoter, Qualified Institutional Buyer (QIB) category:
  • SBI Mutual Fund: 23,15,609 shares for ₹ 270,00,00,094, resulting in a 5.75% post-issue shareholding.
  • SBI Optimal Equity Fund: 2,57,289 shares for ₹ 29,99,98,974, resulting in a 0.64% post-issue shareholding.
  • Collective Stake: Post-allotment, the two allottees will collectively hold 25,72,898 shares, representing 6.39% of the company's expanded share capital.
  • Legal Basis: The issuance is pursuant to Sections 23(1)(b), 42, and 62(1)(c) of the Companies Act, 2013, read with relevant Rules and Chapter V of the SEBI ICDR Regulations.

Conditions and Approvals

The preferential issue is subject to receipt of requisite statutory and regulatory approvals, most importantly, the approval of the shareholders of the Company.

Extraordinary General Meeting (EGM)

To seek the necessary shareholder approval, the Board has approved convening an Extraordinary General Meeting (EGM).

  • Date: Thursday, October 15, 2026
  • Mode: Video Conferencing/ Other Audio-Visual Means (VC/OAVM)
  • Deemed Venue: Registered office at Jindal Towers, Block B, 4th Floor, 21/1A/3, Darga Road, Kolkata, West Bengal, India, 700017.

The notice for the EGM will be submitted to the exchanges once it is dispatched to the shareholders via email.

Meeting Details

The Board meeting was held on September 18, 2026, commencing at 10:00 A.M. IST and concluding at 12:00 noon.

Additional Information

The disclosure includes Annexure-I, which provides additional information as mandated by SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. This annexure confirms the type of issuance as a preferential issue and reiterates the key figures regarding the number of shares, issue price, and post-issue shareholding pattern.