Corrigendum to the Postal Ballot Notice dated May 07,2026
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Gretex Corporate Services has issued a corrigendum to its May 7, 2026 postal ballot notice for a preferential warrant issue. The company plans to raise approximately Rs 69.85 crore through issuance of warrants at Rs 358 per warrant. The funds will be used primarily for working capital (56% - Rs 39.35 crore), investment in Gretex Industries Limited warrants (21% - Rs 15 crore), general corporate purposes (19% - Rs 13 crore), and investment in Bahutex Ventures LLP (4% - Rs 2.5 crore). The issue price of Rs 358 exceeds the SEBI-mandated floor price of Rs 357.32 (based on 10-day VWAP and independent valuer report). The warrants will be allotted to non-promoter entities - Ambition Tie-Up Private Limited and Zyana Developers LLP. The NSE had directed this corrigendum to provide additional details on fund utilisation and pricing justification. Shareholders who have already voted may modify their votes before June 6, 2026.
This preferential issue represents significant capital raising (~Rs 70 crore) for working capital and strategic investments. The involvement of external investors and the 21% allocation to Gretex Industries warrants suggests inter-group transactions. Dilution will occur upon warrant conversion, and shareholders should note the voting modification window.