TruCap Finance Limited has informed the Exchange regarding Further Corrigendum to Notice of Extra Ordinary General Meeting to be held on Jun 25, 2025
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TruCap Finance has issued a second corrigendum to its EGM notice (dated June 24, 2025), just one day before the EGM scheduled for June 25, 2025. The changes, prompted by feedback from BSE and NSE, refine Item Nos. 5 and 6 of the explanatory statement, which deal with a preferential allotment and open offer. Key revisions include clarifying the 'Utilisation of Proceeds' clause to allow a +/- 10% deviation in issue size as permitted by stock exchange circulars, restating the emerging share capital calculation, and updating Point No. 20 with full post-issue shareholding details. The corrigendum also incorporates an addendum to the valuation report dated June 17 and June 23, 2025. Under the underlying transaction, Marwadi Chandarana Intermediaries Brokers Private Limited — which currently holds NIL shares — is proposed to be allotted 11,56,80,000 equity shares and 9,37,00,000 convertible warrants, taking its post-issue holding to 73.53% on a fully diluted basis, plus 3,68,00,220 shares from a Share Purchase Agreement.
This is procedural housekeeping, not a new event — the underlying transaction (a major change in control via preferential allotment and open offer) remains intact. The last-minute corrigendum signals active engagement with stock exchange observations but does not change the substance for shareholders. Existing minority shareholders should note that the EGM will decide whether to approve a transaction that shifts majority control to Marwadi Chandarana, and they retain the right to tender shares in the mandatory open offer for 6,26,81,904 equity shares.