Bannari Amman Spinning Mills Limited has informed the Exchange about Copy of Corrigendum to the Notice of Postal Ballot dated 30.6.2025 - Newspaper Publication.
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Bannari Amman Spinning Mills has issued a corrigendum to its June 30, 2025 Postal Ballot Notice, published in Business Standard (English) and Makkal Kural (Tamil) on July 19, 2025. The corrigendum fixes clarifications around the preferential issue of 41,66,660 warrants to Murugan Enterprise Private Limited (a promoter-group body corporate), including the 60-day fund utilisation timeline, the corrected pre- and post-issue shareholding pattern, and the allottees' post-issue shareholding percentage. After full conversion of warrants and earlier 42,25,806 warrants (issued Nov 4, 2024), the promoter holding will rise from 49.55% to 53.21%, while public shareholding will drop from 50.45% to 46.79%, taking total equity to 8,83,13,841 shares. The Practicing Company Secretary's certificate link on page 15 has also been updated. Shareholders who have not yet voted can do so at instavote.linkintime.co.in, while those who already voted may revise their choice by emailing the scrutinizer, on or before July 31, 2025 (5:00 PM IST).
Existing public shareholders face dilution of about 3.66 percentage points as promoter group entity Murugan Enterprise Private Limited's stake is set to cross 52%. Shareholders should review the corrected disclosures—especially the fund use timeline and revised shareholding pattern—before the July 31, 2025 voting deadline, as their assent will determine the preferential allotment.