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AGM/EGM23 Jul 2026, 06:50 pm

Mini Diamonds Issues EGM Notice Corrigendum for Warrant Issue

AI Summary

Mini Diamonds (India) Limited has issued a corrigendum to its Extra-Ordinary General Meeting (EGM) notice, originally scheduled for August 7, 2026. The corrigendum clarifies Item No. 1 of the EGM notice concerning the proposed issuance of convertible warrants on a preferential basis to promoters and the promoter group. This amendment, prompted by suggestions from BSE Limited, details the utilization of proceeds from the preferential issue, which will aggregate at least ₹8.88 crore. The funds will be allocated equally (50% each) towards the procurement of lab-grown diamond roughs and polished lab-grown diamonds, with an estimated utilization timeline of 3 months from receipt of funds.

Key Highlights

  • Corrigendum issued for EGM notice dated July 9, 2026.
  • Focuses on preferential issuance of convertible warrants to promoters.
  • Proceeds of at least ₹8.88 crore to be utilized for lab-grown diamonds.
  • Funds split equally for rough and polished lab-grown diamonds.
  • EGM remains scheduled for August 7, 2026.