Meeting Details

An Extraordinary General Meeting of the Members of Tirupati Forge Limited is convened on Friday, July 31, 2026 at 11:00 A.M. (IST) through Video Conferencing / Other Audio Visual Means (VC/OAVM).

Summary of Proposed Resolutions and Implications

The primary resolution (Item No. 2) is for the issuance of 37,00,000 Convertible Warrants on a preferential basis to persons belonging to the Promoter and Promoter Group. The corrigendum specifically clarifies that the company is proposing to issue only Convertible Warrants, not equity shares, under this preferential issue. The issue price has been fixed at Rs. 58.00 per Warrant.

Voting Process

The remote e-voting period for the EGM commences on Tuesday, July 28, 2026 at 9:00 A.M. (IST) and ends on Thursday, July 30, 2026 at 5:00 P.M. (IST).

Key Corrections to the Explanatory Statement

The corrigendum details ten specific corrections to the original explanatory statement for Item No. 2:

1. Intention to Subscribe (Page 21): Corrected to state that promoters Mrs. Bhargavi Thummar, Hiteshkumar Gordhanbhai Thummar, and Mrs. Chetna Thummar intend to subscribe only to the Convertible Warrants, not to "Equity Shares and Convertible Warrants".

2. Shareholding Pattern (Page 22): The post-issue shareholding pattern table was corrected to be presented on a fully diluted basis, accounting for the conversion of all 37,00,000 warrants and any other outstanding convertible securities. The pre-issue pattern is based on shareholding as of 30.06.2026.

  • Promoter holding increases from 49.42% (6,42,65,757 shares) to 50.82% (6,79,65,757 shares) post-issue.
  • Non-promoter holding decreases from 50.58% (6,49,24,243 shares) to 49.18% (6,49,24,243 shares) post-issue.
  • Total shares increase from 13,00,40,000 to 13,37,40,000.

3. Time Frame for Allotment (Page 23): Corrected to state that the company shall complete the allotment of Warrants (not equity shares) within 15 days of shareholder approval, pending regulatory nods. Conversion into equity shares must be completed within 18 months from the date of warrant allotment.

4. Post-Issue Capital of Allottees (Page 23): The percentage of post-preferential issue capital for the allottees was corrected to be disclosed on a fully diluted basis.

5. Undertaking on Prior Allotments (Page 24): Corrected an undertaking that erroneously stated no other preferential allotments were made during the year. It now correctly discloses a prior allotment of 25,60,000 equity shares on April 27, 2026, at Rs. 32 per share (including a premium of Rs. 30), upon conversion of warrants allotted to Chetna Mukeshbhai Thummar (22,00,000 shares) and Lata Dhiraj Shah (3,60,000 shares).

6. Practicing Company Secretary Certificate (Page 26): The web link to the certificate provided by Mr. Piyush Jethva (FCS No. 6377, C.P. No. 5452) was corrected to a functional URL: https://tirupatiforge.com/file/2025-26/Certificate-from-Practising-Company-Secretary-31.07.2026.pdf.

7. Class of Allottees and Their Holdings (Page 27): The post-issue shareholding of the proposed allottees (Chetna Mukeshbhai Thummar, Bhargvi Manojbhai Thummar, Hiteshkumar Gordhanbhai Thummar) was corrected to be presented on a fully diluted basis.

8. Number of Persons in Prior Allotment (Page 29): Corrected from "Nil" to state that allotment was made to two persons during the year, aggregating 25,60,000 equity shares at Rs. 32 per share.

9. Details of Prior Allotment (Page 28, Point 23): Corrected from "Nil" to provide a table with details of the prior allotment to two persons for 25,60,000 shares at Rs. 32 per share.

10. Pricing Disclosure (Page 28, Point 24): Corrected an incomplete disclosure and incorrect cross-reference. It now clearly states the floor price was determined as the higher of the 90-day VWAP (Rs. 47.21) and the 10-day VWAP (Rs. 57.75). The issue price of Rs. 58.00 is not lower than this floor price.

Compliance Confirmation

The document confirms that the original EGM notice and this corrigendum have been dispatched in compliance with the Companies Act, 2013 and rules thereunder, read with circulars from the Ministry of Corporate Affairs and SEBI. The corrigendum was published in the Financial Express (English and Gujarati Edition) and is available on the company's website (www.tirupatiforge.com) and the NSE website (www.nseindia.com).