Hi-Tech Pipes Limited has informed the Exchange regarding Notice of Postal Ballot
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hi-Tech Pipes Limited is seeking shareholder approval via postal ballot for issuing 90 lakh Fully Convertible Equity Warrants to promoter group members at Rs. 100 per warrant. The total fund infusion amounts to Rs. 90 crore. Allottees include Mr. Vipul Bansal (20 lakh warrants), Aks Buildcon Private Limited (40 lakh warrants), and Hi-tech Agrovision Private Limited (30 lakh warrants). Each warrant is convertible into one equity share of Rs. 1 face value within 18 months. At least 25% must be paid upfront, with balance payable on conversion. The funds will be used for working capital and general corporate purposes. Promoter holding will increase from 43.76% to 46.14% after warrant conversion. Remote e-voting runs from May 30, 2026 to June 28, 2026.
This preferential issue will dilute existing shareholders but strengthen the company's balance sheet with Rs. 90 crore. The promoter group's stake increases, which could be seen positively for operational support or negatively as minority dilution depending on investor perspective.