Gretex Corporate Services Limited has informed the Exchange regarding Corrigendum to Notice of Postal Ballot dated 07 May,2026
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Gretex Corporate Services Limited has issued a corrigendum to its postal ballot notice (originally dated May 7, 2026) as directed by NSE. The corrigendum provides details of a proposed preferential issue of warrants worth approximately Rs 69.85 crore at Rs 358 per warrant (marginally above the floor price of Rs 357.32). The funds will be primarily used for working capital (56%), investment in Gretex Industries Limited warrants (21%), general corporate purposes (19%), and investment in Bahutex Ventures LLP (4%). The issue is being made to non-promoter allottees including Ambition Tie-Up Private Limited and Zyana Developers LLP. Shareholders who have already voted are being given an opportunity to modify their votes before the June 6, 2026 deadline.
This preferential issue will result in dilution of existing shareholders' stake upon conversion of warrants. The significant allocation to working capital and group company investments indicates expansion plans but carries related-party transaction risk for the Gretex Industries investment.