We herewith submit the revised notice for Extra ordinary general meeting scheduled on 8th August 2025 at 11.00 am with additional agenda items.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Umiya Tubes has issued a revised notice for an Extra-ordinary General Meeting on 8 August 2025 via video conferencing, with six agenda items. The biggest proposal is to add tungsten-based products (for automotive, aerospace, defence, oil & gas, nuclear, medical and railways use) to the company's main business objects, signalling a shift away from the earlier renewable energy plan. The company is seeking shareholder approval to confirm/reconfirm preferential issues – 29.5 lakh equity shares and 55 lakh convertible warrants previously approved in October 2024 at Rs. 11.50 each – now being repriced at Rs. 23 each, plus a fresh issue of 1.05 crore new convertible warrants also at Rs. 23 each, totalling roughly Rs. 43.7 crore. The authorised share capital is proposed to be raised from Rs. 20 crore to Rs. 30 crore (3 crore shares of Rs. 10 each), and Ms. Khyati Viral Ranpura's appointment as Non-Executive Professional Director (1 June 2025 to 31 May 2030) is up for confirmation.
Shareholders will see significant potential dilution if all the warrants convert – up to about 1.6 crore additional shares could be issued, expanding the equity base meaningfully. The shift from renewable energy to a tungsten-products business represents a strategic pivot, and the higher issue price (Rs. 23 vs the originally approved Rs. 11.50) reduces dilution per rupee raised but means new investors are coming in at a higher valuation. Outcomes remain pending the 8 August EGM vote.