Corrigendum to the Notice of Postal Ballot dated 12th May, 2026.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Jattashankar Industries Ltd has issued a corrigendum to its Postal Ballot Notice dated 12th May, 2026, modifying Resolution No. 2 on preferential issue of convertible warrants. Following BSE remarks dated 13th May, 2026 regarding ineligibility of two allottees and disclosure of pre-preferential shareholding details, the Company has revised the issue size from 86,95,000 to 84,05,000 convertible warrants. The issue price is Rs. 92 per warrant (including Rs. 82 premium), aggregating to Rs. 77.33 crore. Each warrant is convertible into 1 equity share within 18 months. 56 allottees are proposed — 5 from the Promoter Group (Alantis group of LLPs) and 51 from the Public category. Proceeds will fund working capital (Rs. 60 crore) and general corporate purposes (Rs. 17.33 crore). Post-issue share capital will nearly triple from 43,87,100 to 1,27,92,100 shares. The e-voting period runs until 11th June, 2026.
Shareholder dilution is significant — promoter holding will drop sharply from 72.56% to ~29.58% post-conversion. Existing shareholders face large equity dilution; approval of this resolution will significantly restructure the company's ownership.