Rectification and correction on board meeting held on 12th June 2025
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The company is correcting typographic errors in its earlier disclosure about a preferential share issue approved at the 12 June 2025 board meeting. The corrected allotment list includes 124 non-promoter investors receiving a total of 1,24,67,500 equity shares, and 3 promoter-related allottees receiving 1,18,00,000 convertible warrants (Eswara Rao Nandam and Uma Nandam each get 46 lakh warrants, Vishaal Nandam gets 26 lakh warrants). The promoter group's combined post-issue holding would rise to about 65.44% assuming full conversion of warrants. No new board decisions have been changed — this is purely a correction to the names and share allocation details of the proposed allottees.
Dilution risk for existing shareholders as the preferential issue plus warrant conversion could expand the equity base significantly. The correction itself has no new implications, but the underlying preferential issue will materially increase promoter control once approved by shareholders.