The EGM of the Company was held on Friday, 05th June, 2026 at 01:00 P.M. (IST) through VC/OAVM to transact the business as stated in the Noticeof the EGM dispatched dated 12th May, 2026 ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Porwal Auto Components held its EGM on 5th June 2026 via video conferencing, where two special resolutions were passed with overwhelming shareholder support (99.99% in favor on both). Resolution 1 approves the issuance of up to 17,54,384 equity shares (face value Rs 10) to public on a preferential/private placement basis. Resolution 2 approves the issuance of up to 3,94,735 convertible warrants (face value Rs 10) to the promoter group, also on a preferential basis. The promoter group is interested in Resolution 2, and they hold 61,11,221 shares out of the total 1,51,00,000 outstanding. Total voting turnout was about 40.88% (61,73,395 shares), with only 300 votes cast against each resolution. The Scrutinizer (Shraddha Jain) certified the results on 9th June 2026.
The preferential allotment could dilute existing shareholders by roughly 11.6% from the public issue and an additional ~2.6% if promoter warrants are fully converted, totaling up to ~14.2% potential dilution. The promoter group's participation through warrants signals confidence in the company's growth, but retail investors should watch for pricing of the preferential issue, as preferential allotments are often at a discount to market price.