Extra- Ordinary General meeting Scheduled to be held on Tuesday, June 16, 2026 at 12.30 PM through VC/OAVM.
HARIOMPIPE · price
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Hariom Pipe Industries Limited has called an Extra-Ordinary General Meeting on June 16, 2026 at 12:30 PM through VC/OAVM. The meeting will seek shareholder approval for three key items: (1) Issue of up to 15 lakh convertible warrants to promoters at Rs. 343 per warrant, aggregating Rs. 51.45 crore, with Rupesh Kumar Gupta and Shailesh Kumar Gupta (Promoters) receiving 6.2 lakh warrants each, and Parul Gupta and Isha Gupta (Promoter Group) receiving 1.3 lakh warrants each. Each warrant is convertible into one equity share of Rs. 10 face value, with 25% payable upfront and 75% on exercise within 18 months. (2) Amendment to Articles of Association to enable conversion of debentures/loans into equity shares. (3) Authorization for lenders to convert outstanding loans into equity shares upon default. The record date for voting eligibility is June 9, 2026, with e-voting from June 13-15, 2026.
The warrant issuance to promoters will bring Rs. 51.45 crore into the company and may lead to share dilution of approximately 15 lakh shares (around 9-10% of current paid-up capital) upon conversion. This signals promoter confidence and provides liquidity, but existing shareholders should monitor potential dilution impact on their holdings.