Corrigendum to the EGM Notice dated December 19, 2025 for the EGM of shareholders of Suditi Industries Limited scheduled to be held on Friday January 16, 2026 at 03:30 P.M. VIA VC/OAVM
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Suditi Industries has issued a corrigendum to its December 19, 2025 EGM Notice ahead of the Extraordinary General Meeting scheduled for January 16, 2026 via video conference. The most material change is a sharp reduction in the proposed preferential issue size under Resolution No. 2 – from Rs. 500 Crores down to Rs. 100 Crores. The resolution's explanatory statement now breaks down utilisation of issue proceeds into Rs. 15.32 Crore for capex, Rs. 16.90 Crore for working capital, and Rs. 10.74 Crore for general corporate purposes, totalling about Rs. 42.97 Crores (contingent on full subscription and warrant conversion). One proposed allottee, Mr. Chandan Kumar Mohanty, has been removed after being disqualified under SEBI ICDR Regulation 159(1); his allocation has been passed on to Mrs. Kiran Prakash Lakhani, whose warrant count rises from 3,00,000 to 4,50,000. The designation in Resolution No. 4 has also been corrected from 'CEO' to 'CEO (Dyeing Division)'. Lists of proposed allottees, post-issue shareholding pattern, and ultimate beneficial owner details have been fully refreshed.
The five-fold cut in the proposed fundraising size signals a significantly scaled-back capital plan, which may reflect weaker investor demand or a more conservative board approach, and warrants close attention from shareholders voting at the EGM. The disqualification of an allottee and last-minute reshuffle of the proposed allottees introduces execution risk and may delay closure of the preferential issue.