Postal ballot notice dated May 07, 2026 pursuant to Regulation 30 of the SEBI(Listing Obligations and Disclosure Requirements) Regulations,2015
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Gretex Corporate Services Limited is seeking shareholder approval via postal ballot for two key proposals: (1) An increase in authorised share capital from Rs 24.2 crore to Rs 26.5 crore by creating 23 lakh additional equity shares of Rs 10 each, and consequent amendment to the Memorandum of Association. (2) A preferential issue of up to 19,51,000 fully convertible equity warrants at Rs 358 per warrant (total consideration approx Rs 69.85 crore) to five non-promoter entities – Ambition Tie-Up Pvt Ltd (12.01 lakh warrants), Zyana Developers LLP (5 lakh), Shailja Sandeep Jindal (1 lakh), Gautam Makharia (75,000), and Punit Makharia (75,000). 25% of warrant price is payable upfront and 75% on conversion, with conversion window of 18 months. Post-conversion, Ambition Tie-Up will be reclassified under the Promoter Group. Voting ends June 6, 2026.
The preferential warrant issue will dilute existing shareholders by ~19.5 lakh shares. The Rs 69.85 crore raised can fund growth but will cause significant equity dilution. Increase in authorised capital enables future issuances. Both resolutions require shareholder approval.