This is with reference to the Postal Ballot Notice dated May 29, 2025 issued by the company on May 29, 2025, we have dispatched the corrigendum to the postal ballot notice and same is dispatched ....
Awaiting price reaction for this filing.
Shamrock Industrial Company has issued a corrigendum to its earlier Postal Ballot Notice, clarifying details around a proposed preferential issue of equity shares, convertible warrants, and optionally convertible debentures (OCDs) to new allottees. The key clarification confirms that this preferential allotment will result in a change in management and control of the company, with existing promoters set to relinquish control in favour of new acquirers, in compliance with SEBI takeover regulations. The issue price has been fixed at Rs. 16.40 per equity share/OCD and includes a control premium, validated by an independent registered valuer. Detailed shareholding tables show proposed new promoter allottees (Rattan Kapoor, Harish Bagepalli Vijayakumar, Lotus Excel Wealth Creators LLP, and HODL Systems LLP) will collectively hold significant stakes post-allotment. The corrigendum also clarifies that Neeta Jitesh Khokhani is not an independent director, correcting an earlier ambiguity. E-voting remains open until June 28, 2025, with shareholders allowed to modify their votes via email to the scrutinizer.
This filing signals a significant control change at Shamrock Industrial Company, with new promoter groups set to take over management. Shareholders should carefully review the corrigendum before voting, as it confirms a dilution of existing promoter control and entry of new investors. The stock could see volatility around the postal ballot outcome and post-voting once the change of control becomes effective.