Please find enclosed file.
Awaiting price reaction for this filing.
Shah Foods Limited has called an EGM on March 6, 2026 (via video conferencing) to seek shareholder approval for 10 major special resolutions. Key items include: (1) A 24x increase in authorized share capital from Rs 1 crore to Rs 24 crores (2.40 crore equity shares of Rs 10 each); (2) Issue of up to 1.59 crore equity shares at Rs 62.50 per share via share swap worth Rs 99.28 crores to acquire 100% of Tandhan Power Technologies Private Limited, with the Jalan family set to become the new promoters; (3) Issue of up to 68.32 lakh equity shares at Rs 110 per share for cash worth Rs 75.16 crores to 69 non-promoter allottees; (4) A significant change in the main objects of the company, shifting its business focus from food to batteries, UPS, power solutions, and related electrical products; (5) Increase in borrowing limits to Rs 500 crores; (6) Appointment of Mr. Vinodkumar Shrikrishna Garg as Non-Executive Non-Independent Director. The resolutions also include changes to the Articles of Association and powers to create charges on company assets.
This EGM signals a fundamental transformation of Shah Foods — effectively a change of business (from food to batteries/power), change of control (Jalan family becoming promoters), and significant equity dilution for existing shareholders. Shareholders will see their stake reduced substantially through the dual preferential allotments. The stock is likely to remain volatile around the EGM date as the market digests this near-complete business pivot and acquisition.