KRN Heat Exchanger and Refrigeration Limited has informed the Exchange regarding Notice of Extraordinary General Meeting to be held on April 15, 2026
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KRN Heat Exchanger and Refrigeration Limited has called an Extraordinary General Meeting (EGM) on April 15, 2026 at 3:00 PM via video conferencing. The EGM will consider five special businesses: (1) re-appointment of Mr. Santosh Kumar Yadav as Chairman and Managing Director for 5 years effective May 9, 2026 with a fixed pay of ₹7.5 lakh per month; (2) re-appointment of Mrs. Anju Devi as Whole-Time Director for 5 years effective May 9, 2026 with a fixed pay of ₹5 lakh per month; (3) approval of the KRN Employee Stock Option Plan 2026 covering up to 6,00,000 equity shares of ₹10 face value; (4) extension of ESOP benefits to employees of subsidiary and group companies; and (5) raising funds up to ₹500 crore through a Qualified Institutions Placement (QIP) of equity shares to qualified institutional buyers. The cut-off date for e-voting eligibility is April 8, 2026, with remote e-voting open from April 12 to April 14, 2026.
The biggest item is the proposed ₹500 crore QIP fundraise, which could lead to equity dilution for existing shareholders but also signals growth capital plans. Additionally, the re-appointments of the Chairman/MD and Whole-Time Director provide leadership continuity, while the ESOP plan may dilute equity by up to 6 lakh shares but helps attract and retain talent. Shareholders should review these resolutions carefully before the EGM.