Notice is hereby given that an EGM of the members of the Company will be held on Monday, March 30, 2026 at 01:00 PM through VC/OAVM to issue fully convertible warrants on preferential basis ....
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Awaiting price reaction for this filing.
Taylormade Renewables has called an Extraordinary General Meeting on March 30, 2026 (via video conferencing) to seek shareholder approval for issuing up to 10,00,000 fully convertible warrants on a preferential basis to two non-promoter individuals — Sukhdev Santramdas Punjabi and Sangitaben Sukhdev Punjabi — who will each receive 5,00,000 warrants. Each warrant, convertible into one equity share of face value Rs. 10 within 18 months, is priced at Rs. 123 (including a Rs. 113 premium), raising up to Rs. 12.30 crore in total. The floor price of Rs. 122.94 was determined based on the 90-trading day VWAP on BSE. Proceeds will be used to implement and commercialize the company's patented sugar manufacturing technology, including pilot plants, R&D, and business development. Allottees must pay 25% upfront with the balance due upon conversion, and no promoter, director, or KMP is subscribing to the issue.
If approved, the company will raise up to Rs. 12.30 crore from two individuals, leading to dilution of existing shareholders when the warrants are eventually converted into equity shares. The use of proceeds is tied to commercializing a patented sugar technology, which is a positive if execution succeeds, but the stock may see short-term pressure due to the preferential allotment at a price close to the market rate.