The National Stock Exchange of India Limited (NSE) raised queries vide letter dated June 10, 2026 regarding the proposed preferential issue of Equity Shares
The EGM Notice (Page 22) originally stated that the Articles of Association do not prescribe any method for determining the floor price
The company clarifies that the Articles of Association actually require obtaining a valuation report for determining the floor price
The company has taken the valuation report for this purpose
The last line of sub-point (c) under Point 7 of Item No. 2 of the Explanatory Statement is rectified to read: "In this regard, please note that the Articles of Association of the Company prescribes valuation report to be taken for determination of the floor price for the Preferential Issue."
2. Interim Deployment of Issue Proceeds
Regarding interim deployment of issue proceeds pending utilization, the company provides the following disclosure for the usage of funds under the last paragraph of point 2 of Item no. 2 of the Explanatory Statement:
"Till such time the Issue Proceeds are fully utilized, the Company shall keep the same in bank deposits and/or money market mutual funds and/or other short-term deposits with scheduled commercial banks or any other investment instruments permitted under applicable laws, as may be approved by the Board of Directors of the Company from time to time."
EGM Details
The Extra-Ordinary General Meeting remains scheduled for Saturday, June 20, 2026 at 11:00 A.M. (IST)
The meeting will be conducted through Video Conferencing (VC) / Other Audio Visual Means (OAVM)
All other contents of the EGM Notice dated May 28, 2026 and Corrigendum dated June 08, 2026 remain unchanged
