Clarification regarding Point B.2 'Objects of the Preferential Issue' of the Explanatory Statement to the Notice dated 6th April 2026 for Extraordinary General Meeting held on 4th May 2026
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The company is clarifying an earlier EGM notice dated 6 April 2026 (EGM held 4 May 2026) related to the preferential issue of 17 crore equity shares for acquiring Global Impx Inc. (GIX) on a non-cash basis. The original notice mentioned access to 196.7 acres of contiguous land at Chhatrapur, Odisha, through Geo Impex Logistics Pvt Ltd. The company clarifies that this figure is an aggregated land bank, not all currently registered in Geo Impex's name. The 196.7 acres breaks down as: ~77.45 acres already held, ~17.10 acres with title transfer in process, ~58.42 acres of adjoining government land identified for potential allotment, and ~43.73 acres of private land identified for acquisition.
This is a corrective disclosure that softens the earlier land-acquisition narrative — only about 77 acres is firmly held, with the rest still being aggregated. Shareholders and investors should treat the full 196.7-acre footprint as a pipeline rather than an already-secured asset, which may temper valuation assumptions tied to the GIX acquisition.