NIBE Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on January 22, 2026 at 03:00 P.M.
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NIBE Limited has issued a corrigendum to the notice for its Extraordinary General Meeting (EGM) scheduled for January 22, 2026 at 3:00 PM. The EGM is seeking shareholder approval for issuing Equity Share Warrants and Equity Shares on a preferential basis. The corrigendum clarifies the objects of the issue with a clear breakdown of how the funds will be used: Rs. 126.85 crore for new manufacturing facilities, Rs. 75 crore for repaying existing borrowings, Rs. 25 crore for working capital, and Rs. 25 crore for general corporate purposes. The minimum issue price has been fixed at Rs. 1,247.44 per share/warrant, based on the higher of the 90-day or 10-day VWAP as of the relevant date of December 23, 2025. The corrigendum also corrects the pre-issue and post-issue shareholding percentages for the four proposed allottees, which include the promoter Mr. Nibe Ganesh Ramesh and three non-promoter foreign funds. Total shares will increase from 1.45 crore to 1.65 crore post-issue.
This corrigendum primarily fixes numerical errors and adds clarifications to the EGM notice rather than changing the substance of the preferential issue. Shareholders should review the corrected shareholding pattern and fund utilization details before voting at the January 22, 2026 EGM. The promoter's stake remains at 50.07% while non-promoter foreign fund allocations are being corrected.