CORRIGENDUME AND ADDENDUM TO THE POSTAL BALLOT NOTICE DATED 29.01.2026.
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MFS Intercorp has issued a corrigendum to its 29 January 2026 postal ballot notice, revising the terms of a proposed preferential issue of convertible warrants to non-promoter allottees. The Relevant Date has been moved from 27 September 2024 to 30 January 2026 to comply with SEBI ICDR Regulations. The warrant issue price has been set at ₹15.00 per warrant, based on a 90-day VWAP of ₹14.89 and a 10-day VWAP of ₹14.10, resulting in a revised total issue size of approximately ₹15.22 crore for up to 1.01 crore warrants. The company is also seeking approval to increase its authorised share capital from ₹5 crore to ₹15.10 crore to accommodate the issue. Proceeds are planned for supply chain expansion (₹500 lakh), a new welding workshop in Ahmedabad (₹200 lakh), technology upgrades (₹100 lakh), working capital (₹606 lakh), and general corporate purposes (₹116.50 lakh). All allottees are non-promoter individuals, with no change in management control.
If approved, the company will raise about ₹15.22 crore via warrant issuance at the SEBI-mandated floor price, with potential mild dilution of existing shareholders upon warrant conversion. The fundraising supports business expansion in supply chain and fabrication, which could be modestly positive if execution succeeds, but the small issue size limits material impact on the stock.