Announced Fri, 18 Sept · 16:44 IST
AGM corrigendum: Kalind replaces warrants with Rs 99 crore equity issue
Price
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Price reaction · full curve 14 horizons · vs prior close
—1-day move
₹4.73
prior close
₹4.50
base price
After-mkt
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AI summary
Kalind issued a corrigendum to its 32nd AGM notice (Sept 29, 2026). Board withdrew the convertible warrants proposal (Item 5) and replaced it with a fresh preferential equity issue of up to 8.60 crore shares at Rs 11.50 each, about Rs 99 crore in total. Allotment to SRM Global Infraa, Orange AI Tech, and EROC Colorant, all non-promoters. Proceeds for energy and manufacturing capex and working capital, within 24 months. No change in control.
Likely market impact
Fresh Rs 99 crore equity dilution to non-promoter entities. Promoter stake drops from 13.56 to 12.39 percent. Subject to shareholder approval at AGM on Sept 29, 2026.