HFCL Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on April 24, 2026
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HFCL Limited has called an EGM on April 24, 2026 to seek shareholder approval for a preferential issue of 7.5 crore warrants to its promoters. The company plans to issue warrants at ₹74 per share (total value ₹555 crore), with 25% payable upfront and 75% on exercise within 18 months. The proposed allottees are NextWave Communications Private Limited (Promoter) and Satellite Finance Private Limited (Promoter Group), each receiving 3.75 crore warrants. If converted, this will result in significant equity dilution for existing shareholders. CARE Ratings has been appointed as the monitoring agency since the issue size exceeds ₹100 crore.
The preferential issue to promoters at ₹74 per share represents potential dilution for existing shareholders. The ₹555 crore fundraising could support company growth but may dilute EPS and voting rights unless warrants expire unexercised.