NEWSPAPER PUBLICATIONS W.R.T. DISPATCH OF NOTICE OF POSTAL BALLOT TO THE MEMBERS OF THE COMPANY
HITECH · price
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Hi-Tech Pipes Ltd has dispatched a Postal Ballot Notice to shareholders seeking approval for issuance of 90,00,000 (9 crore) Fully Convertible Equity Warrants on preferential basis to persons belonging to the Promoter Group category. The voting period runs from May 30, 2026 to June 30, 2026 via remote electronic voting. The cut-off date for determining eligible voters was May 22, 2026. The notice also references a separate proposal to shift the company's registered office from Delhi to Haryana. Results of the postal ballot will be declared by June 30, 2026.
This warrant issuance to promoter group will result in significant equity dilution for existing shareholders. Upon conversion of these warrants, the promoter group's holding will increase substantially, which may impact minority shareholder interests.