Meeting Details

  • Date: Thursday, August 20, 2026
  • Time: 11:30 AM IST
  • Location: Registered Office at Gat No. 139/1 and 139/2 Umala, Jalgaon - 425003, Maharashtra, India
  • Type: Extra-ordinary General Meeting
  • Cut-off date: Thursday, July 23, 2026

Proposed Resolutions

Item No. 1: Preferential Issue of Equity Shares and Warrants

Special resolution to approve issuance of:

  • Equity Shares: Up to 13,73,625 equity shares at ₹2,002 per share (₹10 face value + ₹1,992 premium)
  • Warrants: Up to 2,49,750 convertible warrants at ₹2,002 per warrant
  • Total Fundraise: ₹324,99,96,750

Allottee Details

Equity Subscribers (Non-Promoters):

  • HDFC Manufacturing Fund: 4,99,500 shares (₹99.99 crore)
  • HDFC Innovation Fund: 1,24,875 shares (₹24.99 crore)
  • HDFC Value Fund: 1,24,875 shares (₹24.99 crore)
  • Valuequest India Inflexion Fund: 3,74,625 shares (₹74.99 crore)
  • Minosha India Limited: 2,49,750 shares (₹49.99 crore)

Warrant Subscriber (Promoter):

  • Mr. Deepak Suresh Chaudhari: 2,49,750 warrants (₹49.99 crore)

Key Terms

  • Warrant Conversion: Each warrant convertible into 1 equity share within 18 months
  • Payment Terms: 25% upfront (₹500.50 per warrant), 75% at conversion (₹1,501.50 per warrant)
  • Floor Price: ₹2,001.04 (Relevant Date: July 21, 2026)
  • Issue Price: ₹2,002 (above floor price)

Fund Utilization

  • Debt Repayment: ₹250 crore (within 24 months)
  • General Corporate Purposes: ₹75 crore (within 24 months)
  • Monitoring Agency: CRISIL Ratings Limited appointed

Voting Process

  • Remote e-voting period: August 16, 2026 (9:00 AM) to August 19, 2026 (5:00 PM)
  • E-voting service provider: Bigshare Services Private Limited
  • Scrutinizer: Ms. Yuti Nagarkar, Practicing Company Secretary (CP No: 10802)
  • Voting methods: Remote e-voting and ballot paper at meeting
  • Cut-off for e-voting: August 13, 2026

Shareholding Impact

  • Pre-issue promoter holding: 72.72% (1,14,27,260 shares)
  • Post-issue promoter holding: 67.35% (1,16,77,010 shares) assuming full warrant conversion
  • Public holding increase: From 27.28% to 32.65%
  • Mr. Deepak Chaudhari's holding: From 53.05% to 49.53% post-issue

Lock-in Requirements

  • Preferential shares: 6 months lock-in for non-promoters
  • Warrants: 1 year lock-in from allotment date
  • Conversion shares: 18 months lock-in from trading approval
  • Pre-issue holdings: 90 days lock-in from relevant date

Additional Information

  • Notice sent electronically and physically to shareholders
  • Documents available for inspection at registered office
  • Green initiative supported for electronic communication
  • Proxy forms must be submitted 48 hours before meeting
  • Route map provided to meeting venue