Hariom Pipe Industries Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on Jun 16, 2026
HARIOMPIPE · price
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Hariom Pipe Industries Limited has called an EGM on June 16, 2026 to seek shareholder approval for three key proposals. First, the company plans to issue up to 15 lakh convertible warrants to promoters and promoter group members (Rupesh Kumar Gupta, Shailesh Kumar Gupta, Parul Gupta, and Isha Gupta) at Rs. 343 per warrant, aggregating Rs. 51.45 crore. Each warrant converts into one equity share of Rs. 10 face value, with 25% payable upfront and 75% at conversion within 18 months. Second, the company seeks approval to alter its Articles of Association to accommodate conversion of debentures or loans into shares. Third, the company is seeking authorization to convert outstanding loans into equity shares in case of default, giving lenders an option to convert debt to equity. Remote e-voting runs from June 13-15, 2026 with cut-off date June 9, 2026.
The preferential warrant issue to promoters will dilute existing shareholders and increase promoter holding. The debt conversion clause provides flexibility to lenders but may lead to equity dilution if triggered. Shareholders should carefully evaluate the Rs. 51.45 crore warrant placement and its impact on their stake.