Pursuant to Regulation 30 of LODR, Enclosed herewith is the Notice of Extra-Ordinary General Meeting of the Company to be held on Thursday, December 18, 2025 at 11:00 A.M. (IST) through ....
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Awaiting price reaction for this filing.
Epic Energy Ltd has called an Extra-Ordinary General Meeting on December 18, 2025, at 11:00 A.M. via Video Conferencing. The key item is a proposal to issue up to 38 lakh fully convertible warrants at Rs. 50 per warrant on a preferential basis, potentially raising up to Rs. 19 crore. Allottees include two promoters (Nikhil Morsawala and Veena Morsawala, getting 6 lakh warrants each for Rs. 3 crore each) and seven non-promoter entities, the largest being Soleos Solar Energy Pvt. Ltd getting 20 lakh warrants for Rs. 10 crore. Warrants must be converted into equity shares within 18 months, with allottees paying 25% upfront. Two other items seek shareholder approval to adopt new sets of Memorandum and Articles of Association. Remote e-voting runs from December 15 to December 17, 2025, with the cut-off date being December 11, 2025.
If approved, this preferential issue could dilute existing shareholders by up to 38 lakh shares (assuming full conversion), with promoter group receiving about 31.6% of the warrants and non-promoters getting the rest. The Rs. 19 crore potential capital raise may strengthen the company's balance sheet, but the pricing of Rs. 50 per warrant suggests the current market price is likely above this level. Shareholders should review the rationale and use of funds before voting in the EGM.