Submission of proceedings of Extraordinary General Meeting of the Company held on 06th January, 2026
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SMT Engineering Ltd held an Extraordinary General Meeting (EGM) on 6 January 2026 at 12:30 PM via video conferencing, with 17 members in attendance. Two key resolutions were tabled: (1) an Ordinary Resolution to increase the Authorised Share Capital from Rs. 17 Crore (1.70 crore equity shares of Rs. 10 each) to Rs. 18.10 Crore (1.81 crore equity shares of Rs. 10 each); and (2) a Special Resolution to issue up to 15,50,000 equity shares on a preferential basis to non-promoters at Rs. 225 per share, aggregating to approximately Rs. 34.88 Crore. Voting was conducted through remote e-voting (3-5 January 2026) and e-voting at the meeting. The Scrutinizer's Report and final voting results are yet to be filed with BSE.
If approved, the company will raise about Rs. 34.88 Crore from non-promoter investors at a steep premium of Rs. 225 per share against a face value of Rs. 10, signalling strong valuation. Existing shareholders will face dilution, but the large premium suggests confidence in the company's worth. Investors should track the forthcoming voting outcome and scrutinizer's report for confirmation.