Submission of Corrigendum to the Notice of Postal Ballot.
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Jattashankar Industries Ltd has issued a second corrigendum to its postal ballot notice dated 12th May 2026, further modifying Agenda Item No. 2 regarding a preferential issue of convertible warrants. The issue size has been reduced from 86,95,000 to 81,55,000 warrants due to the ineligibility of one allottee (previously three allottees were ineligible per the first corrigendum). The revised issue is for 81,55,000 convertible warrants at Rs. 92 per warrant (including Rs. 82 premium), aggregating Rs. 75.03 crore. Each warrant is convertible into one equity share of Rs. 10 within 18 months, with 25% payable on allotment and 75% on conversion. The funds will be used for working capital (Rs. 60 crore) and general corporate purposes (Rs. 15.02 crore). Voting is open until 11th June 2026. Post-issue, promoter holding will dilute from 72.56% to 30.17%, while public holding increases from 27.44% to 69.83%.
This is a significant equity fundraising that will substantially dilute promoter holding from ~73% to ~30%. The company is raising Rs. 75 crore primarily for working capital, but the large number of allottees (55 entities) and significant public float creation may impact stock dynamics.