Corrigendum to EGM notice for preferential share and warrant issue

Board & Shareholder Meetings View source PDF

MCLOUD · price

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AI summary

Magellanic Cloud issued a corrigendum to its July 24, 2026 EGM notice for a preferential issue of 3.69 crore equity shares (about Rs 110.79 crore) and 12.67 crore convertible warrants, with total proceeds around Rs 490.89 crore. Funds are earmarked for drone manufacturing (Rs 150 cr), working capital, debt repayment, drone R&D, general purposes, and acquisitions. Key changes include disqualifying one proposed allottee for a SEBI rule violation and consolidating duplicate allottee entries.

Likely market impact

Clarifies EGM notice details. Equity shares drop by 5 lakh after one allottee disqualification; total proceeds and core plans unchanged. Watch July 24 EGM outcome.