Nakoda Group of Industries Limited has informed the Exchange regarding Proceedings of Extraordinary General Meeting held on May 13, 2026. Further, the company has submitted the Exchange a copy of Srutinizers report along with voting results.
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Nakoda Group of Industries Limited held an Extraordinary General Meeting on May 13, 2026 via video conferencing with 30 members present. The meeting passed a Special Resolution approving the issuance of up to 87 lakh (8.7 million) convertible warrants to promoters and non-promoter categories on a preferential basis. The warrants are priced at Rs. 28 per warrant (including a premium of Rs. 18), aggregating to Rs. 24.36 crore. The voting results show overwhelming shareholder approval with 99.95% in favour (13,24,807 votes) and only 0.05% against (641 votes). The scrutinizer's report confirms the resolution was passed as a Special Resolution under the Companies Act, 2013.
Approval of the convertible warrants issuance will result in dilution of existing shareholders' stake upon conversion. The Rs. 24.36 crore capital raise may be used for business expansion or debt reduction, but the preferential allotment to specific categories may lead to change in promoter holding and share price volatility.