Avonmore Capital & Management Services Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting
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Avonmore Capital has issued a corrigendum to its EGM notice dated September 9, 2025, after receiving observations from NSE on its in-principle approval application for a proposed preferential issue of convertible warrants. The company is seeking shareholder approval to raise up to Rs. 74.83 crore through warrants, with Rs. 60 crore earmarked for business expansion and strategic investments, and Rs. 14.83 crore for general corporate purposes. The floor price has been set at Rs. 19.85 per warrant, determined as the higher of the 90-day VWAP (Rs. 19.85) and the independent registered valuer's price, with the 10-day VWAP coming in lower at Rs. 18.22. The warrants will be allotted exclusively to promoter and promoter group entities: Navjeet Singh Sobti, Gurpreet Sobti, Innovative Money Matters Pvt. Ltd., and Rakam Infrastructures Private Limited. The corrigendum also clarifies conversion terms in tranches, lock-in conditions, and undertakings regarding price re-computation. E-voting will run from September 6 to September 8, 2025.
This is a routine regulatory correction following NSE's observations and does not change the fundamental terms of the preferential issue. Shareholders, particularly retail investors, should review the modified EGM notice and exercise their voting rights during the e-voting window, as the fundraise involves a Rs. 74.83 crore equity dilution to promoter-related entities at a floor price of Rs. 19.85 per warrant.