Board Meeting17 Sept 2026, 08:40 pm
Kalind Ltd Withdraws Warrant Issue, Approves Preferential Equity Share Sale
AI Summary
Kalind Limited's Board of Directors met on September 17, 2026, to approve a fresh proposal for a preferential issue of 8,60,86,956 equity shares at ₹11.50 per share, aggregating to ₹98.99 Crore. This replaces a previously approved, larger proposal to issue warrants worth ₹316.02 Crore. The new equity shares will be issued to Non-Promoter entities: SRM GLOBAL INFRASTRUCTURE LIMITED, ORANGE AI TECH PRIVATE LIMITED, and EROC COLORANT PRIVATE LIMITED. The company will seek shareholder approval via a special resolution at the upcoming AGM, for which a corrigendum to the notice will be issued. The relevant date for determining the issue price remains August 28, 2026.
Key Highlights
- Board approves preferential issue of 8.6 Cr equity shares at ₹11.50 each.
- Total fundraise via preferential issue amounts to ₹98.99 Crore.
- Withdraws earlier proposal for issuing 27.48 Cr warrants.
- New shares to be issued to Non-Promoter entities.
- Shareholder approval to be sought via special resolution at AGM.
Price Impact
More from KALIND