EGM Details

  • Date: Thursday, September 17, 2026
  • Time: 02:30 P.M. (IST)
  • Mode: Video Conferencing/Other Audio-Visual Means (VC/OAVM)
  • Cut-off date for voting eligibility: Friday, September 11, 2026
  • Remote e-voting period: September 14, 2026 (9:00 AM) to September 16, 2026 (5:00 PM)
  • E-voting agency: Central Depository Services (India) Limited (CDSL)

Business Items to be Transacted

Item No. 1: Increase in Authorized Share Capital (Ordinary Resolution)

  • Current authorized share capital: ₹25,00,00,000 divided into 2,50,00,000 equity shares of ₹10 each
  • Proposed increase: ₹30,00,00,000 divided into 3,00,00,000 equity shares of ₹10 each
  • Creation of additional 50,00,000 equity shares of ₹10 each
  • Requires amendment to Capital Clause (Clause V) of Memorandum of Association

Item No. 2: Preferential Issue of Equity Shares (Special Resolution)

  • Issue of up to 21,02,400 equity shares to public category investors
  • Face value: ₹10 per share
  • Issue price: ₹180 per share (including premium of ₹170 per share)
  • Aggregate amount: ₹37,84,32,000
  • Relevant date for price determination: August 18, 2026
  • Allotment to be completed within 15 days of shareholder approval

List of Allottees (Public Category):

1. Clarus Capital II - 10,00,000 shares

2. Shalu Aggarwal - 2,16,000 shares

3. Abhaikumar Amolakchand Nahar - 1,68,000 shares

4. Sandeep Singh - 1,68,000 shares

5. Finavenue Growth Fund - 1,12,000 shares

6. Prafull Rai - 84,000 shares

7. Sajal Family Trust - 54,000 shares

8. Swati G Lodha - 42,400 shares

9. Rajesh Jagdish Rai Jain - 78,000 shares

10. Madhav Grover - 30,000 shares

11. Bhanuben Bharatbhai Patel - 30,000 shares

12. Rajkumar Punamchand Golecha - 38,400 shares

13. Yashkumar Poonamchand Golechha - 38,400 shares

14. H&A Ventures - 14,400 shares

15. Ayushi Rathore - 14,400 shares

16. Deepak Kumar Dua - 14,400 shares

Item No. 3: Preferential Issue of Fully Convertible Warrants (Special Resolution)

  • Issue of up to 44,16,000 fully convertible warrants
  • Issue price: ₹180 per warrant
  • Aggregate amount: ₹79,48,80,000
  • Conversion period: 18 months from allotment date
  • 25% payment upfront, 75% payable at conversion
  • Relevant date for price determination: August 18, 2026

List of Allottees:

1. Ritesh Sharma (Promoter) - 16,00,000 warrants

2. Devi Traders LLP (Public) - 6,40,000 warrants

3. Shreya Dua (Public) - 6,35,600 warrants

4. Yashpal Garg (Public) - 2,60,800 warrants

5. Anshvardhan Modi (Public) - 2,00,000 warrants

6. Rachita Gupta (Public) - 2,00,000 warrants

7. Annso Capital Private Limited (Public) - 96,000 warrants

8. Vidhi Parekh (Public) - 80,000 warrants

9. Sangita Jain (Public) - 80,000 warrants

10. Bhagchand Punamchand Bafna (Public) - 76,800 warrants

11. Sonali Swanand Phand (Public) - 68,800 warrants

12. Anita Agarwal (Public) - 54,000 warrants

13. Pallavi Goyal (Public) - 48,000 warrants

14. Vikashh Mehta (Public) - 40,000 warrants

15. Vijay Ramvallabh Khetan (Public) - 40,000 warrants

16. Bhavya Lodha (Public) - 40,000 warrants

17. Aman Pokharna (Public) - 32,000 warrants

18. Ritik Narpatkumar Chopra (Public) - 24,000 warrants

19. Rajat Bhargava (Public) - 24,000 warrants

20. Vipin Arora (Public) - 24,000 warrants

21. Chanchal Biyani (Public) - 24,000 warrants

22. Meghana Divyagnan Sarvaiya (Public) - 24,000 warrants

23. Deepa Jain (Public) - 24,000 warrants

24. Ritik Modi (Public) - 22,400 warrants

25. Manshaa Insights Private Limited (Public) - 12,800 warrants

26. Attune Wealth Private Limited (Public) - 12,800 warrants

27. Anjana Mehta (Public) - 6,400 warrants

28. Lehar Sancheti (Public) - 6,400 warrants

29. Manan Patodia (Public) - 6,400 warrants

30. Arihant Modi (Public) - 6,400 warrants

31. Siddharth Modi (Public) - 6,400 warrants

Objects of Fundraising

Total proceeds: ₹117,33,12,000 (considering 100% warrant conversion)

Utilization plan:

1. Acquisition of land: ₹15,50,00,000 (by September 30, 2029)

2. Construction of building and infrastructure: ₹32,58,51,000 (by September 30, 2029)

3. Purchase and installation of machinery: ₹25,50,00,000 (by September 30, 2029)

4. Working capital requirements: ₹15,00,00,000 (by March 31, 2029)

5. General corporate purposes: ₹28,74,61,000 (by March 31, 2029)

Shareholding Pattern Impact

Pre-issue (as of August 14, 2026):

  • Total shares: 2,07,67,584
  • Promoter holding: 1,20,02,180 shares (57.79%)
  • Public holding: 87,65,404 shares (42.21%)

Post-equity issue:

  • Total shares: 2,28,69,984
  • Promoter holding: 1,20,02,180 shares (52.48%)
  • Public holding: 1,08,67,804 shares (47.52%)

Post-full conversion of warrants:

  • Total shares: 2,72,85,984
  • Promoter holding: 1,36,02,180 shares (49.85%)
  • Public holding: 1,36,83,804 shares (50.15%)

Item No. 4: Appointment of Statutory Auditor (Ordinary Resolution)

  • Casual vacancy caused by resignation of M/s Vinay I Aggarwal & Associates effective August 18, 2026
  • Reason for resignation: pre-occupation with other professional commitments and health condition of signing partner
  • Board appointed M/s Mittal Vaish & Co., Chartered Accountants (FRN: 013622N) on August 25, 2026
  • Proposed annual remuneration: ₹4,00,000 (plus applicable taxes)
  • To hold office until conclusion of subsequent AGM

Item No. 5: Regularization of Independent Director (Ordinary Resolution)

  • Mr. Sanjay Kumar (DIN: 08920598) appointed as Additional Director (Non-Executive Independent) effective April 27, 2026
  • Proposed term: 5 consecutive years from April 27, 2026 to April 26, 2031
  • Qualifications: Ph.D. (Management), Post-Graduation from Ishan Institute of Management & Technology, B.A. from Kumaun University
  • Experience: 17 years in technology incubation and entrepreneurship
  • Current directorships: Panchsheel Abhinav Foundation, Niyati Federation for Social Empowerment, Decent Spinners Ltd. (Independent Director)
  • No shareholding in the company

Additional Information

  • The company is engaged in machines fabrication and engineering equipment manufacturing
  • Plans to set up greenfield manufacturing facility to cater to growing demand in Gujarat, Telangana, Maharashtra and overseas markets
  • Land acquisition formalities are under process
  • Monitoring agency will be appointed to monitor use of proceeds as issue size exceeds ₹100 crore