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Amic Forging Ltd has issued a corrigendum to its EGM notice originally dated 14th May 2026. The EGM scheduled for 5th June 2026 at 3:00 PM via video conferencing seeks shareholder approval for a preferential issue of equity shares and convertible warrants worth approximately ₹221 crore. Key changes include correction of an allottee name (Ankit Madhogaria HUF replaced with Ankit Madhogaria) and clarifications to the utilization of proceeds. The fund deployment is split between capital expenditure of ₹165.75 crore for Phase-III expansion (including a 5000 Ton Open Die Forging Press and heavy forging infrastructure) and general corporate purposes of up to ₹55.24 crore. Post-issue, promoter holding will dilute from 55.24% to 49.08%, while public holding increases to 50.92%. CRISIL Ratings has been appointed as the Monitoring Agency.
Shareholders should note the dilution in promoter holding and the significant capital expansion plans. The ₹221 crore fund raise is material and will increase the share count substantially. Approval for this preferential issue to non-promoters will require passing of Resolution No. 2 at the EGM.