Notice of Extra ordinary general meeting of the company is herewith attached. The Extra ordinary general meeting will be held on 8th August 2025 thruogh Audio Visual means.
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Awaiting price reaction for this filing.
Umiya Tubes has called an EGM on 8th August 2025 at 11:00 am via video conferencing to seek shareholder approval on five key resolutions. The first is to alter the company's main objects clause to add new business lines including tungsten-based products, transformers, and electrical instruments — effectively pivoting from its earlier renewable energy focus to a tungsten-based products business. Resolutions 2 and 3 seek to reconfirm the previously approved (October 2024) preferential issue of 29.5 lakh equity shares at a revised price of Rs. 23 per share (aggregating Rs. 6.79 crore) and 55 lakh convertible warrants at Rs. 23 per warrant (Rs. 12.65 crore), as the original allotments were delayed beyond 15 days, requiring fresh approval under SEBI ICDR Regulation 170(2). Resolution 4 proposes a fresh issue of 1.05 crore convertible warrants at Rs. 23 each (Rs. 24.27 crore) to identified non-promoter investors. Resolution 5 seeks to increase authorized share capital from Rs. 20 crore to Rs. 30 crore. The company plans to raise approximately Rs. 43.70 crore over two years for working capital and capital expenditure in the new tungsten business.
Existing shareholders face significant potential dilution — between the confirmed equity shares, reconfirmed warrants, and fresh warrants, up to ~1.9 crore additional securities could be issued, expanding the equity base substantially. The business pivot away from renewable energy (which failed due to a missed BSE listing permission) toward tungsten-based products introduces a new growth direction, though execution risk and the small-cap nature of the company warrant close monitoring.