Intimation of Extra Ordinary General Meeting of the Company held will be held on Thursday, January 08, 2026 at 03:00 P.M.
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Olatech Solutions has called an EGM on January 8, 2026 to seek shareholder approval for two key items. First, to raise authorised share capital from Rs. 6 crore to Rs. 7 crore (60 lakh to 70 lakh equity shares of Rs. 10 each). Second, to issue up to 5,82,453 equity shares at Rs. 451 per share (aggregating up to Rs. 26.27 crore) on a preferential basis to two non-promoter allottees — Aseem Satish Kumar and Pargatjot Singh — purely through a share swap, not cash. The swap is meant to acquire stakes in three foreign tech firms: 100% of Code Brew Inc. (USA), 100% of Code Brew Labs FZCO (UAE), and 40% of Code Brew W.L.L. (Bahrain), with the remaining 60% of Code Brew W.L.L. to be bought later for up to Rs. 13.45 crore in cash. Combined turnover of the target companies was about Rs. 28.8 crore in FY25. The deal is structured as a cashless share swap to acquire AI, blockchain, and digital engineering capabilities and expand into North America, Middle East, and EMEA markets. E-voting runs from January 5 to January 7, 2026.
If approved, this is a significant dilution event — about 5.82 lakh new shares will be issued to the two allottees, alongside a separate cash acquisition of Rs. 13.45 crore for the remaining Bahrain stake. The transaction turns Olatech into a global digital/AI solutions player but introduces dilution risk and execution risk tied to integrating three foreign entities. Shareholders should watch the swap ratio, valuation report, and the lock-in structure (which extends up to 36 months for some shares) before voting.