Intimation of Corrigendum to the Notice of the Extraordinary General Meeting to be held on Tuesday, 06th January, 2026 at 12:30 P.M. IST
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SMT Engineering Ltd has issued a corrigendum fixing typographical errors in the Explanatory Statement of its EGM notice dated November 13, 2025, related to a preferential allotment. The corrections clarify how the proposed issue proceeds (totalling approximately Rs. 34.88 crore) will be utilised: Rs. 10.36 crore for its wholly owned subsidiary SAI Machine Tools Pvt Ltd, Rs. 24.41 crore for step-down subsidiary Chemerix Life Sciences Pvt Ltd (both for setting up new manufacturing units and procuring plant and machinery), and Rs. 10 lakh for general corporate purposes, all within 12 months of receiving funds. The company also corrected an office address detail. The management stated the corrections do not affect the substance or intent of the resolution. The EGM is scheduled for January 6, 2026.
This is primarily an administrative correction and is unlikely to materially impact the stock price or shareholder value. However, it confirms a preferential issue of around Rs. 34.88 crore is up for shareholder approval, with proceeds earmarked for capacity expansion in subsidiaries, which could support future growth if approved and executed as planned.