Key Decisions Approved
The Board of Directors approved two main items:
1. Fundraising through Preferential Issue: Approval for raising funds through issuance of:
- Up to 12,62,131 (Twelve Lakhs Sixty-Two Thousand One Hundred and Thirty-One) fully paid-up Equity Shares of ₹5 each
- Up to 8,32,177 (Eight Lakhs Thirty-Two Thousand One Hundred and Seventy-Seven) Equity Warrants, each convertible into one equity share of ₹5 face value
Issue Details:
- Issue price: ₹721 per security (₹5 face value + ₹716 premium)
- Total consideration: ₹150,99,96,068 (One Hundred Fifty Crores Ninety-Nine Lakhs Ninety-Six Thousand and Sixty-Eight Only)
- Mode: Preferential allotment to identified non-promoter persons
- Relevant date for pricing: June 15, 2026
The issuance is subject to necessary approvals including shareholder approval and other regulatory/statutory approvals as required.
2. Convening of Extraordinary General Meeting: Approval to convene an EGM on Wednesday, July 15, 2026, through video conferencing or other audio-visual means to seek shareholder approval for the preferential issue. The notice will be submitted to stock exchanges in due course.
Meeting Details
- Meeting date: June 22, 2026 (Monday)
- Commencement: 06:00 PM IST
- Conclusion: 06:45 PM IST
Annexure A Details - Securities Issuance
Equity Shares:
- Type: Equity Shares
- Issuance type: Preferential Allotment
- Quantity: 12,62,131 shares
- Issue price: ₹721 per share (₹5 face value + ₹716 premium)
- Total consideration: ₹90,99,96,451 (Ninety Crores Ninety-Nine Lakhs Ninety-Six Thousand Four Hundred Fifty-One Only)
- Number of investors: 12
- Outcome: Subscription amount ₹90,99,96,451 at issue price ₹721
Equity Warrants:
- Type: Equity Warrants convertible into Equity Shares
- Issuance type: Preferential Allotment
- Quantity: 8,32,177 warrants
- Issue price: ₹721 per warrant
- Total consideration: ₹59,99,99,617 (Fifty-Nine Crores Ninety-Nine Lakhs Ninety-Nine Thousand Six Hundred Seventeen Only)
- Number of investors: 1
- Conversion terms: Each warrant convertible into one equity share within 18 months from allotment date
- Forfeiture terms: If warrants not exercised within 18 months, 25% of consideration paid will be forfeited
Annexure A1 - Equity Share Allottees Details
Twelve non-promoter allottees for equity shares:
1. Value Quest India G.I.F.T Fund (Foreign Portfolio Investor Category-I)
- Shares: 4,02,219
- Investment: ₹28,99,99,899
2. WhiteOak Capital India Opportunities Fund (Alternative Investment Fund Category II)
- Shares: 3,25,936
- Investment: ₹23,49,99,856
3. Motilal Oswal Financial Services Ltd. (Corporate Body)
- Shares: 2,08,044
- Investment: ₹14,99,99,724
4. WhiteOak Capital Equity Fund (Alternative Investment Fund Category III)
- Shares: 76,282
- Investment: ₹5,49,99,322
5. Calliope Capital Advisors LLP (Corporate Body)
- Shares: 69,348
- Investment: ₹4,99,99,908
6. Umang Mahendra Shah (Individual)
- Shares: 69,348
- Investment: ₹4,99,99,908
7. Jignesh Vijay Shah (Individual)
- Shares: 27,739
- Investment: ₹1,99,99,819
8. Ramita Jain Nevatia (Individual)
- Shares: 27,739
- Investment: ₹1,99,99,819
9. Anuj Arora (Individual)
- Shares: 6,934
- Investment: ₹49,99,414
10. Bharvi Dharamsi Chandan (Individual)
- Shares: 6,934
- Investment: ₹49,99,414
Total Equity Shares: 12,62,131
Total Investment: ₹90,99,96,451
Annexure A2 - Equity Warrants Allottee Details
One non-promoter allottee for equity warrants:
1. Malabar India Fund Limited (Foreign Portfolio Investor Category I)
- Warrants: 8,32,177
- Investment: ₹59,99,99,617
- Conversion: Each warrant convertible into one equity share within 18 months
Total Equity Warrants: 8,32,177
Total Investment: ₹59,99,99,617