Akash Infra Projects Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on March 16, 2026
AKASH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Akash Infra Projects has issued a corrigendum to the EGM notice originally sent on 21 February 2026, ahead of the EGM scheduled for 16 March 2026 at 4:00 PM (via video conferencing). The correction pertains to Item No. 2 of the EGM — a proposed preferential issue of up to 40,00,000 convertible warrants (convertible into 40,00,000 equity shares) to persons from the promoter/promoter group and public category. The corrigendum was issued after NSE raised observations and sought clarifications on the preferential issue. Key updates include: the floor price fixed at Rs. 39.55 per warrant with the issue price set at Rs. 40 per warrant (above the floor, in line with SEBI ICDR rules); clarification on interim use of proceeds (to be parked in corporate bank accounts or fixed deposits); and confirmation that proposed allottees Mr. Yoginkumar Patel, Mr. Ambusinh Gol, Mr. Dineshbhai Patel, and Mr. Premalsinh Punjaji Gol are also Directors/KMPs. A fresh valuation report dated 16 February 2026, with an addendum dated 3 March 2026, has been placed on the company's website.
This is a procedural clarification, not a fundamental change — the preferential issue terms are largely intact, with the pricing marginally adjusted upward (Rs. 40 vs floor of Rs. 39.55) to comply with NSE observations. Shareholders should review the revised disclosures before voting at the 16 March 2026 EGM, as promoter participation in the preferential issue could result in equity dilution for existing public shareholders if warrants are fully converted.