Corrigendum to the Notice of EGM of the Company
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Concord Control Systems has issued a corrigendum to the EGM notice originally dated November 27, 2025, ahead of the EGM scheduled for December 20, 2025 via video conferencing. The corrigendum revises the use of proceeds from a proposed preferential issue totaling Rs. 5,008.50 Lakh — broken down as working capital (Rs. 150 Lakh), business acquisitions and subsidiary investments (Rs. 300 Lakh), loans to subsidiaries/associates (Rs. 3,308.50 Lakh), and general corporate purposes (Rs. 1,250 Lakh). Separately, the company plans to issue up to 24,662 equity shares of Rs. 10 each (worth about Rs. 5.18 Crore) through a share swap to acquire 17,691 equity shares of Progota India Private Limited. The acquisition is described as strategic, combining Concord's manufacturing strengths with Progota's R&D in rail automation, digital signalling, and propulsion electronics. All other terms of the original EGM notice remain unchanged.
Shareholders voting at the December 20 EGM should note the updated fund utilization plan and the proposed share-swap acquisition of Progota, which signals expansion into rail-tech domains and will result in equity dilution for the acquirer's shareholders.