EGM on July 24 for preferential share issue worth about Rs 492 crore and related party loans
MCLOUD · price
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Magellanic Cloud has called an EGM on July 24, 2026 at 12 noon via video conferencing. Three special resolutions: (1) Preferential issue of 3.74 crore equity shares and 12.67 crore convertible warrants at Rs 30 each to promoters and non-promoters, totalling about Rs 492.38 crore. (2) Raise NRI and OCI investment limit from 10 percent to 24 percent and FPI limit to sectoral cap. (3) Approve loans up to Rs 150 crore to subsidiaries MCRAY Xtend India, Scandron, and Motivity Labs under Section 185. E-voting runs July 21 to 23, cut-off July 17.
Major equity dilution if warrants convert; large fundraising plus related-party loan approvals. E-voting ends July 23.