EGM to be held on Thursday, 16th April, 2026 at Registered Office at 11.30 AM.
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GTV Engineering Ltd has called an EGM on Thursday, April 16, 2026 at 11:30 AM at its registered office in Mandideep, Bhopal. Two special resolutions are on the agenda. The first seeks shareholder approval to grant loans, give guarantees, provide securities, or make investments up to Rs. 100 Crore under Section 186 of the Companies Act. The second is a share-swap preferential allotment of up to 39,42,047 equity shares (face value Rs. 2) at Rs. 59.65 per share, aggregating to about Rs. 23.52 Crores, to promoter-group entity GTV Infrastructures Pvt Ltd in exchange for 1,12,56,250 equity shares (35.31% stake) of M/s Chirchind Hydro Power Pvt Ltd (CHPPL). After the swap, GTV Engineering's holding in CHPPL will rise to 51%, making it a subsidiary, and Shivalik Energy Pvt Ltd (a CHPPL subsidiary) will become a step-down subsidiary. E-voting runs from April 13 to April 15, 2026, with April 9, 2026 as the cut-off date.
The deal is a cashless acquisition of a hydro-power company via share swap, expanding GTV Engineering into a new business vertical without depleting cash. Shareholders should watch the valuation of CHPPL and the dilution effect from issuing shares to the promoter group. Approval of the Rs. 100 Crore investment ceiling also gives the board wide future flexibility for treasury deployment or strategic bets.