The Corrigendum has been issued to provide certain updates/clarifications in the Notice of the EGM, inter alia with respect to the Relevant date for determination of the floor price in ....
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Taylormade Renewables has issued a corrigendum to its EGM notice (originally dated March 7, 2026) ahead of the EGM scheduled for March 30, 2026. The corrigendum revises the relevant date for determining the floor price to February 27, 2026, and confirms the issue price at ₹123.51 per fully convertible warrant (face value ₹10 + premium of ₹113.51). The company proposes to issue up to 10,00,000 warrants, aggregating up to ₹12.35 crore, on a preferential basis to two non-promoter public allottees — Sukhdev Santramdas Punjabi and Sangitaben Sukhdev Punjabi — with 5,00,000 warrants each. Allottees must pay 25% upfront and the balance on conversion within 18 months. The proceeds will be used to implement and commercialize the company's patented sugar manufacturing technology, including pilot-scale plants, R&D, and business development.
This is a fund-raising move via convertible warrants that could lead to dilution of existing shareholders once the warrants are exercised. The issue is being done at the regulatory floor price (₹123.51), with no promoter participation, meaning the two public-category investors will gain significant equity stake. Shareholders should review the preferential issue terms and the eventual dilution impact on their holdings before the EGM vote.