United Polyfab Gujarat Limited has informed the Exchange regarding Corrigendum to Notice of Extra Ordinary General Meeting to be held on July 19, 2025
UNITEDPOLY · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
United Polyfab Gujarat Limited has issued Corrigendum III to the notice of its Extra-Ordinary General Meeting (EGM) scheduled for July 19, 2025 at 4:30 PM via video conferencing. The corrigendum corrects the pricing and valuation details for a proposed preferential issue of warrants, which would represent 9% of the company's post-issue fully diluted equity share capital. The issue price has been set at Rs. 18.89 per warrant, with a regulatory floor price of Rs. 11.33 per equity share, based on a revised valuation report by independent registered valuer CA Moiz Ezzi. The earlier valuation report contained inadvertent clerical and computational errors, including an incorrect 90-day VWAP figure (Rs. 16.76) that was flagged by NSE in a letter dated July 15, 2025. The revised valuation report has been uploaded to the company's website and submitted to the stock exchange. This is the third corrigendum issued, following previous ones on June 23, June 24, and July 8, 2025.
This is a procedural correction rather than a new corporate action, and the actual preferential issue terms remain broadly unchanged. However, three corrigenda to a single EGM notice may raise minor governance concerns among retail investors, who should review the revised valuation report before voting on July 19, 2025. Short-term stock sentiment could see mild pressure due to the repeated corrections, though the floor price being significantly below the issue price suggests favorable terms for the allottees.