Submission of Notice Convening Extraordinary Gneneral Meeting of the Company
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SMT Engineering Ltd has called an EGM on Tuesday, 6th January 2026 at 12:30 PM via video conferencing, with e-voting open from 3rd to 5th January 2026. Two special business items are on the agenda: (1) increasing the authorised share capital from Rs. 17 crore (1.70 crore equity shares) to Rs. 18.10 crore (1.81 crore equity shares) of Rs. 10 each, requiring an Ordinary Resolution; and (2) a preferential allotment of up to 15,50,000 equity shares at Rs. 225 per share, aggregating to about Rs. 34.88 crore, to 8 non-promoter allottees, requiring a Special Resolution. The proceeds are intended for investment in wholly-owned subsidiaries to fund capital expenditure and working capital needs. The largest allottees are Natwarlal Keshavjibhai Kawa (4.23 lakh shares), Kunal Haresh Mehta (2.88 lakh shares) and Bijal Kaushik Gandhi (2.10 lakh shares).
If approved, existing shareholders will face equity dilution of roughly 8.4% from the preferential issue alone. The capital raise of about Rs. 35 crore should strengthen the company's balance sheet and fund subsidiary growth, but the pricing and use of proceeds will be key things for shareholders to evaluate before voting.