Preferential Issue Approval
The Board approved, subject to shareholder and regulatory approvals, the preferential issue of equity shares:
- Total issue size: 16,89,859 equity shares of face value ₹10 each
- Issue price: ₹503 per share (including premium of ₹493 per share)
- Total consideration: ₹84,99,99,077 (approximately ₹85 crore)
- The issue will be made to three non-promoter entities:
- ICICI Prudential SmallCap Fund: 10,93,439 shares for ₹55 crore
- ICICI Prudential Retirement Fund-Hybrid Aggressive Plan: 2,98,210 shares for ₹15 crore
- Clarus Capital II: 2,98,210 shares for ₹15 crore
The issue will be conducted under Section 42 and Section 62(1)(c) of Companies Act, 2013 and relevant SEBI regulations including ICDR Regulations, 2018.
Extraordinary General Meeting
The Board approved holding an EGM on September 24, 2026, at 11:00 AM IST through VC/OAVM to seek shareholder approval for the preferential issue. The cut-off date for determining voting eligibility is September 17, 2026.
Scrutinizer Appointment
CS Vishal Thawani, partner of M/s. VTSN Associates LLP, was appointed as scrutinizer for the e-voting process.
Shareholding Impact
As per Annexure B, the post-allotment shareholding pattern is projected as:
- Pre-issue: Promoters hold 1,58,32,236 shares (46.22%), Public hold 1,84,18,835 shares (53.78%)
- Post preferential issue: Promoters would hold 1,58,32,236 shares (44.05%), Public would hold 2,01,08,694 shares (55.95%)
- After accounting for pending warrant conversions (7,02,246 warrants approved on July 12, 2026 and allotted on August 13, 2026): Promoters would hold 1,65,34,482 shares (45.13%), Public would hold 2,01,08,694 shares (54.87%)
The Board meeting commenced at 11:10 AM and concluded at 11:25 PM on August 29, 2026.