Disclosure under Regulation 30 of SEBI LODR Regulations, 2015

Meeting Details

  • Date: Thursday, October 15, 2026
  • Time: 10:30 A.M. (IST)
  • Location: Conducted through Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • Type: Extraordinary General Meeting
  • Cut-off date for determining members entitled to vote: Thursday, October 08, 2026

Proposed Resolution

Special Resolution: To approve the issuance, offer, and allotment of Equity Shares by way of Preferential Issue.

Details of Preferential Issue

  • Total Equity Shares: 25,72,898 fully paid-up equity shares of face value ₹2 each
  • Issue Price: ₹1,166 per share (including a premium of ₹1,164)
  • Total Consideration: ₹299,99,99,068
  • Proposed Allottees:

1. SBI Mutual Fund (through various schemes): 23,15,609 shares (5.75% post-issue holding) for ₹270,00,00,094

2. SBI Optimal Equity Fund – Long Term: 2,57,289 shares (0.64% post-issue holding) for ₹29,99,98,974

  • Allottee Category: Non-promoter Qualified Institutional Buyers

Objects of the Issue

1. Strengthening the balance sheet by repayment/prepayment of existing borrowings (minimum ₹230 crore, within 6 months of listing approval)

2. General corporate purposes (up to ₹69,999,068, within 12 months of listing approval)

  • Funds will be kept in bank deposits/mutual funds until utilization
  • Variation of up to ±10% permitted in estimated amounts

Pricing Basis

  • Relevant Date: September 15, 2026 (30 days prior to EGM)
  • Floor Price: ₹1,165.72 per share as per SEBI ICDR Regulations
  • Issue Price: ₹1,166 per share (above floor price)
  • Valuation report obtained from independent valuer Nikhil Chandak (IBBI/RV/07/2019/11801)

Shareholding Pattern Impact

  • Pre-issue capital: 3,76,96,475 equity shares (₹7,53,92,950)
  • Post-issue capital: 4,02,69,373 equity shares (₹8,05,38,746)
  • Dilution: 6.39% of pre-issue capital
  • Promoter holding reduction: From 69.90% to 65.43%
  • No change in control - management remains with existing promoters

Voting Process

  • Remote e-voting period: October 12, 2026 (9:00 AM) to October 14, 2026 (5:00 PM)
  • Service Provider: National Securities Depository Limited (NSDL)
  • Voting Rights: Proportional to shares held as of October 08, 2026 cut-off date
  • Scrutinizers: CS Pramod SM (F7834, COP 13784) and CS Biswajit Ghosh (F8750, COP 8239) of BMP & Co. LLP
  • Scrutinizer Report: To be submitted by October 19, 2026 (2 working days post-EGM)
  • Results: To be posted on company website and forwarded to stock exchanges

Compliance Statements

  • The company confirms compliance with Sections 100, 101, 102 of Companies Act, 2013
  • The EGM is conducted in accordance with MCA Circulars permitting virtual meetings
  • No outstanding dues payable to SEBI, stock exchanges, or depositories
  • No promoters/directors are wilful defaulters or fugitive economic offenders
  • Proposed allottees don't hold any existing shares in the company
  • All equity shares will be allotted in dematerialized form